BONK Approaches Critical Support Zone for Potential Bullish Reversal

BONK is approaching a critical support zone that could potentially trigger a bullish double bottom structure if it holds. This zone is significant due to its technical confluence, and the next move could determine BONK’s trend for the coming weeks.

After a period of consolidation and downward pressure, BONK is currently trading near a crucial region on its chart. This area marks the point of control, which is the most traded level within BONK’s current range. This level often serves as a pivotal point where the price decides between continuation and reversal.

If buyers can defend this level or allow a controlled dip into deeper support below, a bullish double bottom structure may form. This setup is known for leading to sharp rallies. However, low volume remains a concern, and the upcoming reaction will provide crucial insights into BONK’s next directional move.

The point of control is currently BONK’s battleground, a volume-based level where prior price action balanced. If buyers can defend this region, it may signal that demand is returning and a bottom is being set in place. Currently, the price is showing hesitation, with smaller candles and no decisive move, suggesting indecision among market participants.

If the point of control fails to hold, the price will likely trade lower into the value area low, which aligns with a previous swing low. This level offers significant technical confluence: it’s where liquidity likely rests, where previous buyers stepped in, and where market makers often engineer reversals through liquidity sweeps. If BONK forms a low at this zone, completing a double bottom, it would be a textbook setup for a rotation back toward the highs of the range.

However, for that scenario to play out, volume must return. The current decline in the volume profile suggests waning interest, which could delay or weaken any bullish reversal attempt. Without a shift in momentum supported by rising volume, the risk remains that price action continues to drift or even break further down.

If BONK holds the point of control or dips into the value area low with a rise in bullish volume, a double bottom could form, potentially launching a move back toward the range highs. Failure to see that volume, however, increases the probability of continued weakness.

The next few sessions will be key in validating whether BONK is ready to reverse or still searching for its true support base.