BONK Price Surges on Bullish Pennant Amid 135% Volume Spike Targets 35-40% Gain

BONK’s price trajectory has drawn attention as the token consolidates within a bullish pennant on the 4-hour chart, signaling potential for a breakout. The pattern, characterized by converging resistance at $0.00003657 and support at $0.00003282, has traders monitoring for confirmation of a 30-40% upward move. Current price action remains near $0.00003305, with analysts noting that a decisive close above the upper boundary could propel the price toward $0.00004800—a 35-40% gain from present levels [1].

The recent 135.59% surge in 24-hour trading volume to $1.25 billion underscores renewed market interest, aligning with historical precedents where elevated activity precedes breakout attempts. This volume spike, coupled with a market capitalization of $2.72 billion and a volume-to-market cap ratio of 45.82%, highlights heightened speculative activity. Traders are interpreting the consolidation phase as a prelude to further momentum, with the pennant’s measured move principle providing a technical foundation for the projected target [1].

While the bullish case is supported by the asset’s adherence to trendline boundaries, market sentiment remains cautious. The failure to sustain price above $0.00003620—a key intraday high—has introduced short-term uncertainty, even as broader structure indicates resilience. The narrow price range between $0.00003657 and $0.00003282 has become a critical battleground, with bulls and bears vying for dominance. A breakdown below $0.00003282 could trigger a retest of July lows, though the current volume-driven momentum suggests immediate downward pressure is unlikely [1].

Analysts emphasize that the outcome hinges on volume confirmation during the next attempted breakout. A sustained move above resistance would validate the pennant’s continuation pattern, while rejection could force a reconsolidation phase. Market participants are advised to monitor trendline interactions and volume spikes as the asset approaches the pennant’s apex, where directional clarity is expected.

The token’s 1.19% daily decline against a backdrop of tight price action underscores the delicate balance between bullish and bearish forces. Despite this, the overall technical setup remains intact, with the measured move principle offering a clear trajectory should the bulls prevail.

Source: [1] [BONK Price Builds Momentum: Bullish Pennant Targets $0.00004800 Amid 135% Volume Spike] [https://cryptonewsland.com/bonk-price-builds-momentum-bullish-pennant-targets-0-00004800-amid-135-volume-spike/]