Bonk Price Surges 40% in July Rally

Bonk (BONK) has shown significant price movement in recent days, consolidating above the $0.00002500 level after a strong rally from below $0.00001800 earlier this month. The meme coin has tested its 78.6% Fibonacci retracement and is currently trading within a tight range just under its immediate resistance at $0.00002625. Despite short-term volatility, bulls have maintained control for the past week, with technical and derivatives data reflecting a sustained bullish bias.

On the daily timeframe, Bonk price has rallied nearly 40% from its July 1 lows and is now hovering near a key supply zone between $0.00002580 and $0.00002630. This zone corresponds with the 1.0 Fibonacci extension of the prior swing structure. Multiple indicators suggest a bullish continuation may be in play, with Supertrend flipped green and Parabolic SAR trailing well below price. The 4-hour Bollinger Bands show a recent volatility expansion, followed by consolidation near the upper band, which is now sitting near $0.00002625. Price has also found dynamic support at the 20 EMA ($0.00002377), while higher EMAs like the 50 and 100 continue to fan out — confirming upward trend strength.

In the 30-minute structure, BONK is maintaining higher lows while trading within an ascending channel. The asset has reclaimed key levels near $0.00002470 and is now trading within a bullish flag-like compression, with potential to test $0.00002748 (Fib R4) if momentum revives. The current upside in Bonk price is supported by both technical momentum and aggressive derivatives activity. Coinglass data shows a 186.24% surge in 24-hour trading volume, with open interest rising by over 36% to $45.90 million. The long/short ratio remains slightly bullish at 1.019, suggesting traders are still positioned for upside continuation.

On the 30-minute chart, RSI currently stands at 52.9, recovering from earlier dips and indicating a neutral-bullish bias. Meanwhile, MACD has stabilized near the zero line after a bullish crossover, reflecting a potential pause before a new leg upward. The key structural driver remains BONK’s clean break above $0.00002150 earlier this week, which flipped a critical resistance into support. Liquidation data confirms that shorts were squeezed during this move, particularly between $0.00002300 and $0.00002500, clearing the path for higher price discovery.

BONK has respected the midline of the pitchfork channel drawn from its July 8 swing low. The asset is currently consolidating just above the midline support near $0.00002500, with upper channel resistance seen near $0.00002750. A breakout beyond this could trigger a rapid push toward the psychological $0.00003000 level. The daily chart also shows a completed bullish reversal pattern from the prior downtrend, with a breakout above a long-standing descending trendline now confirmed. Fibonacci retracement zones indicate that price has cleared the 0.786 level at $0.00002485 and is targeting the previous swing high near $0.00002625.

Bonk price is expected to remain bullish as long as the $0.00002400–$0.00002450 support band holds. A break above $0.00002630 with volume confirmation could extend the rally toward $0.00002748 followed by $0.00003000. Failure to hold above $0.00002400, however, could open the door to a short-term retest of $0.00002300. Given the rising EMAs, supportive RSI, neutral MACD, and strong derivatives flow, the setup continues to favor buyers. However, traders should monitor price reaction at $0.00002630 closely, as rejection here may trigger short-term pullbacks despite the broader uptrend.