BONK Meme Coin Shows Mixed Signals Amid Bullish Daily Chart

BONK, a meme coin, has recently shown mixed signals, leaving traders uncertain about whether to go long, short, or stay sidelined. The coin has rallied past June’s high due to considerable demand, which was evident in both the spot and derivatives markets. However, a closer examination of the price charts on different timeframes reveals a more complex picture.

On the weekly chart, BONK displays a bearish swing structure with key points at $0.00000258 and $0.0000114. A move beyond the former resistance level could signal a bullish outlook for BONK in the higher timeframes. Currently, a bullish argument is not feasible on the weekly timeframe. The price action showed the first sign of a trend shift with a higher low in June compared to March, but it was not definitive. The On-Balance Volume (OBV) has been moving sideways since March, indicating a lack of consistent demand. The weekly Relative Strength Index (RSI) has been below the neutral 50 mark throughout 2025, except for a couple of weeks in May, further suggesting bearish dominance. At the time of writing, the RSI was at 49.86, and a move above neutral 50 could be the first sign of a momentum shift.

In contrast, the 1-day BONK chart offers a more optimistic outlook. The 1-day swing structure turned bullish after the gains made on July 5th. The OBV made a new high compared to June’s high, and the RSI shot above neutral 50. These volume and momentum indicators signal bullishness for the meme coin. Additionally, BONK exhibited a bullish market structure break on the daily chart on June 28th. Combined with the higher lows the token made over the past ten days, it suggests that BONK bulls are gaining strength. However, the local high has been reached, and traders may look to exit their long positions at a profit. A bearish market structure shift on the 4-hour chart could provide the next swing trade opportunity. The more likely outcome, given the increased trading volume during the rally, is a continued move higher. Traders can wait for the $0.0000183 level to be flipped to support before going long.

The $0.0000165 level on the lower timeframe chart must be defended in case of a pullback. While demand in recent days was considerable, zooming out showed that demand has been relatively low since March. This lack of consistent demand could hurt the chances of a sustained rally. Analysts see potential for long-term growth in BONK due to its real-world utility, on-chain revenues, and strategic partnerships, making it more than a typical meme coin. However, the current mixed signals make it challenging to predict the coin's future direction with certainty. Traders should carefully monitor the price action and indicators on different timeframes before making any decisions.