BONK Gears Up for Breakout With RSI Rising and MACD Turning Bullish
After staging a strong rebound from last week’s lows, BONK appears to be regaining bullish momentum, lifting itself off a critical support zone.
The meme coin saw a solid daily close above the $0.00001987 and $0.00001984 support band, flipping short-term sentiment in favor of the bulls and sparking interest in a potential upside breakout toward higher resistance levels.
BONK Rebound Gains Steam Above Support
Following a week of gradual declines, BONK printed a reversal candle just above the key support at $0.00001987, which coincides with both price action support and the 20-day EMA. The bounce was timely, helping BONK avoid a deeper pullback toward $0.00001790—a level that would have marked a major breakdown from its recent uptrend.
Daily chart for BONK/USD (Source: GeckoTerminal)
Instead, buyers stepped in aggressively, leading to a daily close that nudged the price above the short-term moving averages. The convergence of price and the 9-day EMA now suggests bullish alignment is returning, potentially fueling further upward moves.
Despite the bullish recovery, BONK faces near-term resistance at $0.00002079, which previously acted as a local ceiling during the last leg up. A successful break above this zone could trigger a move toward the more formidable resistance levels at $0.00002174 and $0.00002201. These zones represent the next major challenges for buyers, and rejection here could see BONK lose momentum if volume doesn’t follow through.
On the downside, the $0.00001987–$0.00001984 region remains an important support buffer. A daily close below this zone could reopen the door for a slide back toward the $0.00001790 support, invalidating the short-term bullish bias.
Momentum Indicators Turn Positive
Technical indicators are showing early signs of bullish reversal. The RSI has climbed above the 50 midpoint, indicating increasing bullish strength after a period of consolidation. This upward momentum supports the case for further gains if BONK manages to push through resistance levels in the coming sessions.
Meanwhile, the MACD histogram has flipped positive after a series of weakening bars, pointing to growing bullish divergence. Although the MACD line is only slightly above the signal line, the trend is turning upward—suggesting an improving momentum picture, albeit still in early stages.
Traders looking to enter long positions may consider entries near current levels, ideally on a confirmed breakout above $0.00002079 with volume backing the move. Targets for upside trades include the $0.00002174 and $0.00002201 resistance zones, with stop-loss placements just below the $0.00001984 support.
Short sellers, on the other hand, could look for signs of rejection at resistance or a failed breakout attempt. If BONK is unable to hold above $0.00001987 on a retest, it may signal renewed bearish pressure with downside potential toward the $0.00001790 zone.
Outlook
BONK’s recent bounce and the improving indicator alignment paint a cautiously bullish picture. However, bulls must show conviction by breaking through the current resistance cluster and sustaining momentum. Failure to do so could result in another rejection cycle, especially if broader market sentiment turns risk-off.
As always, traders are encouraged to monitor overall crypto market trends and volume levels when positioning in meme coins, which can exhibit outsized volatility even during stable market conditions.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
