Solana-based Memecoin Bonk fell back after jumping over 20% earlier this week, but stays in Bullish Mode in the midst of increased business activity.
Bonk rose 21% during a 24-hour period into Thursday and placed himself as the strongest artist among larger cryptocurrencies. It traded recently with $ 0.00001673, a gain of 1.68% with price action ranging from $ 0.00001606 to $ 0.00001751, a 9.4% intraday swing.
Fuel for the TGE Momentum is mounted speculation around a 2x geared Bonk ETF, where Tuttle Capital Management confirms July 16 as the earliest potential launch date pending regulatory approval.
Adding to the bullish atmosphere is Bonk at the forefront of reaching 1 million holders, a milestone that will trigger a 1 trillion trillion token burn, potentially cutting the supply and reinforcement of upward pressure. It currently boasts over 943,000 holders.
Technically, Bonk has broken free from both falling wedge and symmetrical triangle patterns, indicating a transition from consolidation to potential expansion, according to Coindesk Research’s analytical model.
Analysts point to fixed support of $ 0.000013 and resistance near $ 0.000018. A successful violation of this resistance can lock a potential path to $ 0.00003372, which represents a possible 100% upside if momentum holds.
This rally coincides with wider growth in the Solana ecosystem, including increased validator participation and infrastructure investments. With strong basic elements, technical support and speculative catalysts in line, Bonk could be ready for an extended outbreak in the short term.
Technical analysis highlights
- Bonk topped with $ 0.00001751 around 01:00 UTC with a remarkable 1.66B volume tip, establishing a high-volume resistance zone.
- Price is traded in a tight ribbon from 03:00 to 12:00 UTC, signaling consolidation after rally.
- Key Support for $ 0.00001627 held permanently throughout the trading session despite intraday tackles.
- Bonk experienced a sharp reversal of 1.5% at. 13:52 UTC on heavy volume (31.9B)Validation of $ 0.0000164 as support in almost term.
- Resistance forms almost $ 0.000017, tested several times between 02:00 and 06:00 UTC.
- Wider support zone remains about $ 0.000013 per day. Macro level card patterns.
- Bonk is broken out of both falling wedge and symmetrical triangle formations, typically bullish setups.
- RSI suggests space for additional upside without overbought signals that are clear at current levels. ‘
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