BONK Meme Coin Shows Signs of 20% Breakout

BONK, a prominent meme coin in the cryptocurrency market, has been in a tight consolidation range for several weeks, leaving traders speculating about a potential breakout. As the broader altcoin market attempts to recover from recent corrections, BONK’s daily chart indicates a possible shift in momentum. The chart displays clear Fibonacci levels, a recovering Relative Strength Index (RSI), and recent buying pressure, all of which suggest that traders should closely monitor BONK’s price movements.

The daily chart of BONK/USD shows a subtle but promising transition from a consolidation phase to a potential new upward trend. The Heikin Ashi candles reveal that BONK has been moving sideways since its decline in May. However, the recent green candles with longer bodies indicate that buying pressure is gradually returning.

The Fibonacci retracement levels on the chart are crucial. BONK’s price is currently near the 0.382 retracement level at approximately $0.0000145. A decisive close above this level could push BONK toward the next Fibonacci band near the 0.236 level around $0.0000175, representing a potential upside of about 20.7%.

The RSI (14) is currently at 47.54, approaching the neutral 50 mark, indicating that BONK’s price is neither overbought nor oversold. A break above 50 would signal growing bullish momentum. Notably, the RSI has risen from the oversold zone near 30 in recent weeks, suggesting that sellers are losing dominance.

If BONK’s price breaks and sustains above $0.0000145 and $0.0000175, the next target could be the round figure near $0.0000200, aligning with psychological resistance. Conversely, if BONK fails to hold the 0.382 level, it might revisit the lower Fibonacci band near $0.0000120, which is roughly a 17% drop from current levels.

BONK’s price is at a technical crossroads. Short-term traders should watch for a daily close above the $0.0000145 mark with increasing volume. This breakout could confirm a fresh rally toward $0.0000175–$0.0000200. However, if the breakout fails, tight stop-losses near $0.0000135 could protect against a deeper pullback.

The chart structure, pivot levels, and RSI all suggest a possible breakout. However, buyers must reclaim the Fibonacci pivot to gain momentum. The next few daily closes will be crucial: if BONK breaks the sideways drift, this meme coin could surprise with a short-term 20%–30% spike.