BONK Meme Coin Surges 29% as Bullish Trend Confirmed

BONK, a meme coin, has recently experienced a significant breakout from a multi-week consolidation range, indicating a bullish shift in market sentiment. The coin had been trading within a tight band between $0.000021 and $0.000027 for several weeks, a period marked by declining volatility and volume compression. The recent surge above $0.000027 invalidated this sideways structure, signaling the start of a new bullish phase. The immediate price target, based on the height of the prior range, is set near $0.000033–$0.000035, with $0.000038 acting as the next resistance level.

Following the breakout, BONK retested the $0.000027 zone, validating it as new support. This retest is crucial as it reduces the risk of a fakeout and increases the likelihood of trend continuation. The bounce from this level was supported by increasing volume, further solidifying the reclaim. As long as BONK holds above $0.000027 on closing bases, the structure remains firmly bullish.

The ongoing trend is forming a parabolic curve, with BONK printing a consistent series of higher highs and higher lows across the 4H and daily timeframes. Applying Fibonacci extensions from the most recent swing low to high suggests target levels around $0.000044, $0.000052, and $0.000065. Each of these levels aligns with prior order block zones and historical wick resistances, adding further technical confluence.

On-chain and derivatives data show rising open interest and funding rates, indicating that leveraged positions are aligning with spot price action. This alignment often accelerates breakout trends. If this continues, BONK could attempt a breakout beyond $0.00005 within the next leg.

Key levels to watch include support at $0.000027 (confirmed retest zone), followed by $0.000024 as a deeper correction base. Resistance levels are set at $0.000038, then $0.000044 and $0.000065 as Fibonacci expansion targets. A break and close below $0.000024 may shift the structure back to neutral.

In conclusion, BONK’s current market structure is clearly bullish, supported by a breakout-retest-confirmation pattern and accelerating trend strength. With momentum aligned and price respecting key structural levels, the short-to-midterm outlook remains positive. As long as the $0.000027 support holds, the market bias favors a push toward $0.00005 and beyond. Analysts are optimistic about the potential for BONK to reach $0.00006, given the current bullish momentum and technical indicators.