BONK (BONK) Price Prediction: Memecoin Poised for 77% Breakout from Rising Channel

BONK currently sits at a critical juncture following its impressive 140% recovery since April. The memecoin has established a clear uptrend pattern within a rising channel formation.

Following a 140% recovery since April, BONK currently stands at a critical juncture. The memecoin has formed a clear uptrend within a rising channel pattern.

Crucially, the 200-day Exponential Moving Average has acted as a pivotal level for BONK's price action. Previously offering resistance in April, this level has now been confirmed as support in May.

This support zone also coincides with the lower boundary of the rising channel pattern, further strengthening the technical significance of the current price level.

Moreover, BONK's price remains above both short-term and long-term moving averages, indicating that bulls still hold sway in the market structure.

The Relative Strength Index has stayed above the midpoint since April, suggesting demand has consistently outweighed supply during the recent uptrend.

If the current support level holds, BONK faces immediate resistance at $0.000025. Breaking above this level could pave the way for a rally toward $0.035.

A rally to $0.035 would yield approximately 77% gains from current levels. This target aligns with the upper boundary of the established rising channel.

However, the Chaikin Money Flow indicator shows capital inflows have stagnated since mid-May. This suggests the memecoin has yet to attract massive buying interest following the recent consolidation period.

Despite flat money flow, other metrics paint a more optimistic picture. For instance, spot market demand has shown signs of recovery, albeit at a measured pace.

In the derivatives market, a surge in Open Interest is evident, as it has climbed to over $12 million recently.

This increase in Open Interest indicates growing speculative interest in BONK futures contracts. Typically, higher derivatives activity precedes significant price movements.

Additionally, the Cumulative Volume Delta for spot markets shows gradual improvement since mid-May. This metric tracks the balance between buying and selling pressure.

Liquidation data reveals key price magnets around the $0.19-$0.20 area, which also corresponds with major moving average support zones.

The $0.18 level marks another critical liquidation zone and aligns with the 100-day EMA support level.

A sustained break below $0.18 would shift market structure in favor of short sellers, and this level serves as a logical stop-loss point for bullish positions.

The confluence of technical levels around $0.18-$0.20 makes this zone crucial for BONK's immediate direction. Bulls need to defend this area to maintain the uptrend scenario.