BONK Price Prediction: Bullish Momentum Builds as Meme Coin Eyes Key Breakout
- BONK rises 8% to $0.00001366 as Bitcoin tops $90K and market optimism returns
- Trading volume doubles to $165.77 million, signaling renewed investor interest
- The token tests key resistance at $0.000014 with potential for a breakout
- On-chain data shows strong accumulation, pointing to growing long-term confidence
BONK (BONK) price is showing signs of a potential bullish reversal after enduring months of downward movement. Fueled by Bitcoins rally above $90,000 and a surge in market-wide optimism, BONK is gaining traction among traders and investors. On-chain data and technical indicators suggest that the meme coin could be on the verge of a breakout, if it clears a crucial resistance zone.
BONK Price Surges 8% Amid Market Rebound
At the time of writing, BONK is trading at $0.00001366, reflecting a 24-hour price increase of nearly 8%. The meme coins trading volume has skyrocketed by 102%, reaching $165.77 million, while its market capitalization now stands at $1.07 billion.
This surge in volume highlights growing investor interest and signals a strong possibility of further upward movement. BONK is currently testing the $0.000014 resistance level, a psychological and technical barrier that, once broken, could open the door to a significant price rally.
BONK Poised for Breakout
From a technical analysis standpoint, BONK is trading within a key support and resistance range, often considered a neutral zone where major moves are incubated. Traders are advised to observe the price action closely, as a breakout in either direction could dictate the next trend.
The support zone for the asset lies between $0.00000890 and $0.00000960, indicating a price range where buying interest may help prevent further declines. On the other hand, the resistance zone is positioned between $0.00001520 and $0.00001565, suggesting a level where selling pressure could limit upward movement.
While the token remains in consolidation, scalping opportunities exist for short-term traders using tight stop losses. A clean break above the upper resistance range could ignite a fresh rally, especially as momentum indicators and volume support a bullish outlook.
Massive Accumulation Signals Growing Confidence
On-chain data reveals increased accumulation by BONK holders, suggesting growing confidence in the assets long-term potential. As countless low-value meme coins fade, BONK continues to solidify its presence with strong community backing and active market participation.
This accumulation trend, combined with the broader market recovery, enhances the probability of a bullish breakout in the coming days.
Will BONK Price Explode in April 2025?
With Bitcoin leading the charge and meme coins gaining renewed attention, BONK is well-positioned to benefit from the current bullish environment. If the token successfully breaks through the $0.00001565 resistance level, it could trigger a new leg up in price, potentially marking a return to its previous highs.
Traders and investors should keep a close eye on BONK, as it hovers near a critical breakout zone. Whether youre a long-term holder or a short-term scalper, BONKs technical setup and market sentiment suggest that April 2025 could be a pivotal month for this rising meme coin.
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Text source: TronWeekly
