Bonk, “Sorana Meme Coin”, Have been silent for a whilebut an interesting technical analysis shows that its price action may attract people’s interest. Over the past few weeks, meme coins have shown The structure is becoming more and moreits price recovered key support levels and began to challenge overhead.
According to analysts at the TradingView platform, Bonk has just confirmed the formation of a double bottom layer. This is the next price target for meme cryptocurrency.
Double bottom reversal and golden intersection explosion
Technical analysis of Bonk/Tetherus pair It shows that the meme cryptocurrency has just confirmed the formation of a double bottom, which is one of the most reliable reversal patterns in technical analysis. This structure suggests the exhaustion of bearish momentum, which is characterized by Bunker’s price action since the beginning of the year, and the early stages of the bullish trend.
Bonk’s price action is now pushing directly to downward trendline resistance, a major technical cap since late December 2024, which has rejected its rally. If this barrier is broken, it will mark a decisive breakthrough in a months-long decline.
In addition, the moving average of the index is also sending bullish signals. The 12-hour fusion of EMA-50 and EMA-200 will soon lead to the Golden Cross, an event that usually precedes the strong upside.
Upward targets and key resistance areas
It seems that Bonk is currently on the road to surpassing the resistance trend line again, but this time there is enough faith. The last time the meme coin tested this trendline was in late April when its price turned down $0.00002179.
This rejection is due to the uptrend at the second bottom on April 7, up from the uptrend at the second bottom, which is due to the 0.00001036 on April 7. The subsequent post-rejection retracement restored the price to a critical support range between $0.00001550 and $0.000001425, which has since appeared in the past 24 hours.
At the time of writing, Bonk is trading at $0.00001824, up 8.3% over the past 24 hours. The next step is to push trading landscape analysts to highlight resistance levels before explosive movements.
If the bull successfully crosses the overhead resistance zone between $0.00002000 and $0.00002100, the next medium resistance is between $0.00002500 and $0.00002750. This range is consistent with predicted movement from the double bottom mode and can be used as a phase area for further integration. However, if the bullish momentum continues, especially behind the gold cross confirmation, the next level to watch will be between the $0.00003400 and $0.00003700 area. This level has strong significance as it is consistent with 50% Fibonacci retraction From November 2024, the highest in history.
Featured images from Bonk, charts from TradingView.com
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