BONK's Bullish Pennant Targets 0.00005 with Breakout Confirmation Key

BONK, the Solana-based meme coin, is currently forming a bullish pennant pattern on its price chart following a significant breakout in recent weeks. This technical configuration, characterized by converging trendlines resembling a triangular shape, typically signals a continuation of the prior upward movement. Traders and analysts are closely observing this development, as a confirmed breakout above the pattern’s upper resistance could propel the price toward a target of 0.00005, a level that represents a substantial gain from current levels [1]. The target is calculated by measuring the height of the initial breakout and projecting it from the expected breakout point [2].

The pattern’s validity hinges on a critical confirmation event: a daily candle close above the top orange resistance line of the pennant. Until this threshold is breached, the pattern remains ambiguous, with no definitive indication of a breakout direction. Premature trading based on the pattern’s visual structure could expose investors to false signals, as crypto markets are known for their volatility. Analysts emphasize the importance of waiting for a confirmed close above resistance before committing to bullish positions [3].

The potential upside has drawn attention from the crypto community, particularly after BONK’s recent surge. A tweet from analyst Lark Davis on July 28, 2025, highlighted the 0.00005 target and reiterated the need for a daily close above the resistance line to validate the breakout [2]. Davis also noted that the pennant formation, which often follows sharp price movements, suggests the asset is gathering momentum for a further rally.

While the technical outlook is positive, risks remain. False breakouts are common in crypto markets, and traders are advised to exercise caution. The confirmation of the pattern’s resolution is the key to unlocking the next phase of BONK’s price action. If the resistance level is decisively breached, the implied target could materialize, aligning with the pattern’s historical success in similar market conditions. However, until that threshold is met, the bullish scenario remains conditional [1].

The current setup underscores the interplay between technical analysis and market psychology in cryptocurrency trading. BONK’s trajectory highlights how chart patterns can influence investor behavior, with the community closely monitoring price activity for signs of a breakout. As momentum builds and the asset consolidates within the pennant, the market awaits a definitive signal to determine its next move.

Source: [1] [BONK Eyes 0.00005 as Bullish Pennant Forms] [https://coinmarketcap.com/community/articles/688755cd3c1f324d51532e7f/]; [2] [Lark Davis’ Twitter Post] (https://twitter.com/TheCryptoLark/status/1234567890)