BONK Price Breakout Eyes Bullish Move Ahead
BONK is testing key resistance levels and setting up for a potential bullish breakout from a falling wedge.
- BONK is forming a falling wedge pattern.
- Price is testing a key 3D breaker block for support.
- A breakout and supply flip may trigger a long setup.
BONK, the meme coin that has captured trader interest, is showing signs of a potential bullish breakout. Currently, the price is consolidating within a falling wedge pattern — a bullish technical setup that often precedes upward price movement. Traders are closely watching this pattern as a breakout above the wedge could signal a significant trend reversal.
In the short term, the key focus is on whether BONK can break above the wedge resistance and flip the lower time frame (LTF) supply zone — represented as a blue box on the chart — into a support level. If this happens, it could serve as confirmation for entering a long position, especially for those looking to add leverage.
3D Breaker Block Offers Spot-Buy Opportunity
While waiting for a breakout, BONK is already testing a major support area known as a 3-day (3D) breaker block, marked as a black box. This zone has historically acted as a strong reversal point, and its current test may offer a solid spot-buy opportunity for traders not looking to use leverage yet.
This area’s support increases the odds that BONK could soon show strength on the LTFs (lower time frames), which many traders see as a signal to begin adding leverage positions cautiously.
What Traders Should Watch Next
The next key confirmation will be a decisive breakout from the falling wedge, coupled with a successful flip of the supply zone. Until then, caution is advised, but the setup remains promising for bulls.
Traders should monitor volume and price action around these key zones as BONK continues to consolidate. With meme coin momentum still active in the market, BONK may be positioning itself for a strong upward leg.
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