The post BONK Price Analysis: Can Bulls Push It to $0.00006 After the Latest Breakout? appeared first on Coinpedia Fintech News
BONK price has broken out from a multi-week consolidation range, confirming bullish intent with a decisive shift in market structure. After testing critical price levels and reclaiming lost ground, the meme coin is now positioned for a continued move higher. The setup suggests further upside potential, with key levels now acting as both technical springboards and psychological targets. With the trend strengthening, traders are now watching closely as BONK approaches higher resistance zones.
BONK Price Analysis
Breakout from Accumulation Range
BONK traded inside a tight consolidation band between $0.000021 and $0.000027 for several weeks. This range served as an accumulation zone, marked by declining volatility and volume compression. The recent breakout above $0.000027 invalidated the sideways structure and marked the start of a new bullish leg. Based on the height of the prior range, the immediate price target stands near $0.000033–$0.000035, with $0.000038 acting as the next resistance.
Retest and Reclaim of Structural Support
Following the breakout, BONK retested the $0.000027 zone with a clean pullback, validating it as new support. This confirmation is critical from a technical standpoint—it reduces the risk of a fakeout and sets a higher probability for trend continuation. The bounce from this level was supported by increasing volume, further solidifying the reclaim. As long as BONK holds above $0.000027 on closing bases, the structure remains firmly bullish.
Trend Continuation and Fibonacci Targets
The ongoing trend is forming a parabolic curve, with BONK printing a consistent series of higher highs and higher lows across the 4H and daily timeframes. Applying Fibonacci extensions from the most recent swing low to high suggests target levels around $0.000044, $0.000052, and $0.000065. Each of these aligns with prior order block zones and historical wick resistances, adding further technical confluence.
Increasing Momentum and Open Interest
On-chain and derivatives data show rising open interest and funding rates, indicating leveraged positions aligning with spot price action. While not a direct chart-based signal, the alignment of derivatives and spot market structure often accelerates breakout trends. If this continues, BONK could attempt a breakout beyond $0.00005 within the next leg.
Key Levels to Watch
Support: $0.000027 (confirmed retest zone), followed by $0.000024 as a deeper correction base
Resistance: $0.000038, then $0.000044 and $0.000065 as Fibonacci expansion targets
Invalidation: Break and close below $0.000024 may shift structure back to neutral
Conclusion: Structure Favors Bulls
BONK’s current market structure is clearly bullish, supported by a breakout-retest-confirmation pattern and accelerating trend strength. With momentum aligned and price respecting key structural levels, the short-to-midterm outlook remains positive. As long as the $0.000027 support holds, the market bias favors a push toward $0.00005 and beyond.