We recently shared our thoughts on Bonk price in a previous blog (read it here). That trade played out well. Naturally, Bonk is back on our watchlist. And yes — we longed it again.
Today, we’ll explain why we’re bullish once more, and we’ll share our trade setup.
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Bonk Price Action Signals a Fresh Start
Bonk is showing early signs of recovery after weeks of downside pressure. On the 4-hour chart, the Bonk price hovers around $0.00001506. It recently broke out of a six-week falling wedge pattern. This move aligns with a completed harmonic structure that stretched from points X to D.
That structure – likely a Bat or Gartley variation – ended near historical support and multiple key Fibonacci levels. After forming the D-point, price action tightened inside the wedge, then broke out clearly. BONK now trades above the $0.00001450–$0.00001500 support area, which has held up well.
EMA Cluster Breakout and Volume Support
The technical structure continues to flip bullish. After the wedge breakout, Bonk quickly reclaimed the 20, 50, and 100 EMAs. It’s now testing the 200 EMA for the first time in over two weeks.
Bollinger Bands widened sharply, signaling an end to low volatility and a move toward strong price action.
If bulls can keep momentum, the next targets to watch include:
- $0.000018
- $0.000022
- $0.000026
These zones line up with previous high-volume rejections. However, if price slips below $0.0000145, the move may fail, with downside risk toward $0.000013 and $0.000012.
Volume Surge and Gen1 Program News Boost Fundamentals
On July 2, BONK recorded a 15.57% rise in open interest, climbing to $12.63 million. Trading volume jumped 38.13% to $35 million. That’s according to CoinGlass, and it shows renewed interest across both spot and derivatives.
The Bonk team also confirmed the end date for its Gen1 Solana Mobile reward program: July 31. Of the 20,000 allocated rewards, over 17,500 have already been claimed. The rest will be sent to the BONK DAO, likely reducing short-term supply and strengthening community governance.
Daily Chart Suggests Retest Reversal
BONK gained nearly 4% at the time of writing this post, pushing higher after holding above broken resistance.
On the daily chart, a falling wedge pattern had been forming. Its resistance was defined by highs from May 12 and June 11. Support came from the May 17, May 31, and June 22 lows.
The breakout happened with Saturday’s 10% pump. After hovering above the trendline, today’s surge looks like a textbook post-retest reversal.
If Bonk closes strong today, price could push toward the 50% Fibonacci retracement near $0.00001734. That fib level stems from the swing low of $0.00000886 in April to the May high of $0.00002581.
MACD shows a healthy green histogram, suggesting buyers still have some fuel. But keep an eye on the MACD line. If it crosses below the signal line, it could trigger a short-term sell signal.
RSI is climbing and currently sits at 46. That’s close to the neutral midline, which could flip sentiment further if crossed.
Bonk Price: Key Levels to Watch
- Support Zone: $0.0000130–$0.0000135
- Resistance: $0.0000150
If price holds support and continues consolidating, another rally is possible. But if it loses $0.0000130, downside momentum could return quickly.
Bonk Is Reinventing Itself Through Utility
BONK may have started as a fun meme coin, but its ecosystem continues to grow. Today, you can use Bonk for:
- Staking and yield farming in Solana DeFi
- NFT minting and ecosystem rewards
- Instant tipping and peer payments
And there’s more.
Bonk Launchpad Keeps Launching Winners
Bonk Launchpad helped launch useless — a meme coin that surged to a $250 million market cap. That’s a 3x since we first called it (read it here).
We also bought Hosico today at $42 million market cap. We’re betting it has more room to run. More on this later.
BONK is no longer just the joke that started it all. It’s enabling the next wave of meme coin projects on Solana.
BonkBot Makes Trading Easy
One of Bonk’s biggest wins is BonkBot — a Telegram trading bot for Solana tokens. With just a token address and a few taps, you can trade instantly. No need to set up a wallet or use a clunky DEX UI.
Telegram bots are becoming essential tools in the crypto world. BONK was early here, and it shows.
Yes, the fees are a bit steep for small trades. But the user experience makes up for it. BonkBot proves that BONK is evolving beyond speculation.
It’s becoming usable crypto infrastructure.
Our Current BONK Trade
We’re chasing BONK here. That daily close was too clean to ignore.
Our setup:
- Entry: $0.000016105
- Stop: $0.000011944
- Target: $0.000033581
If you’re following our moves — good luck, and manage your risk.
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Always trade with proper risk management. Don’t bet it all and use a stop loss! This is a long game, not a get-rich-quick scheme.
Final Words
Bonk price continues to impress both technically and fundamentally. It’s not the new shiny thing. But it is one of the most consistent meme projects in the space.
If momentum keeps building and the broader market stays strong, BONK could easily double from here.
Just don’t be surprised when this old dog leads the next meme rally on Solana.
If you enjoyed this blog, go check out blog on Bitcoin potential targets of earlier today,
As always, don’t forget to claim your bonus below on Bybit. See you next time!
