The meme-inspired cryptocurrency BONK continues to draw attention from traders and investors alike as it pushes higher in a well-defined bullish impulse. Despite strong upward momentum, technical signals suggest the rally may be nearing exhaustion. With Fibonacci extensions and RSI divergence offering mixed signals, market participants are closely watching key resistance and support levels for clues on the next major move.
This analysis dives into BONK’s current price structure, identifies potential breakout targets, and outlines strategic levels for both continuation and correction scenarios—all while maintaining alignment with Elliott Wave principles and momentum indicators.
BONK’s Bullish Impulse Structure
After completing a complex corrective pattern labeled W-X-Y-X-Z, BONK has re-entered a strong impulsive phase. The recovery began from a deep accumulation zone between $0.00000089 and $0.00000100, marking a clear shift in market sentiment.
On the 4-hour chart, the breakout occurred on April 7 following a sustained consolidation within a falling wedge—a classic bullish reversal pattern. Since then, price action has unfolded in a textbook five-wave impulse, confirming the resumption of the larger uptrend.
Waves (i) through (iv) have been clearly defined, with wave (v)—the final leg of the impulse—now in progress. This final wave has been characterized by aggressive momentum and rising volume, fueling a 56% surge since May 6 alone.
Signs of Late-Stage Momentum
While the structural outlook remains bullish, momentum indicators are flashing cautionary signals. The Relative Strength Index (RSI) is currently showing bearish divergence: price has made new highs, but RSI has failed to confirm them with corresponding higher peaks.
This divergence often appears in the final stages of an impulse wave, particularly during wave (v). It suggests that buying pressure is weakening even as price climbs—classic behavior of late-stage rallies driven more by sentiment than sustainable demand.
Despite this warning, no confirmed bearish reversal pattern has formed yet. As long as price holds above key support zones, the path of least resistance remains upward—at least in the short term.
Traders should prepare for one final push higher, potentially capped near $0.00002585, which aligns with the 0.786 Fibonacci extension level. This area could serve as a springboard for either a strong breakout or a reversal, depending on how volume and momentum respond.
BONK Price Prediction: Target Zones Ahead
Zooming into the 1-hour chart reveals the internal microstructure of the ongoing wave (v). Waves i through iv within this final leg appear complete, placing BONK firmly in wave v of wave v—an often explosive but short-lived phase.
The most probable target lies at the 1.0 Fibonacci extension near $0.00002855**, based on the initial thrust from the April low. Should bullish momentum accelerate beyond expectations, an extension to **1.272 Fib ($0.00003199) becomes feasible—though such a move would require strong volume and broad market support.
Key Levels to Watch
- Immediate Resistance: $0.00002585 (0.786 Fib extension)
- Primary Target: $0.00002855 (1.0 Fib extension)
- Extended Target: $0.00003199 (1.272 Fib extension)
- Retracement Support: $0.00002223 (50% pullback of current leg)
- Stronger Support: $0.00001889 (Fib 0.236 of April–present advance)
- Structural Floor: $0.00001591 (prior wave IV low)
A successful retest of these support levels after a peak could offer high-probability re-entry opportunities for traders aiming to ride the next cycle.
Potential Correction Scenarios
Even in strong bull markets, corrections are inevitable—and often healthy. Given the current RSI divergence and proximity to key Fibonacci extensions, a pullback in BONK is not only possible but increasingly likely.
If wave (v) completes near $0.00002855–$0.00003199, the subsequent correction could unfold as a standard ABC pattern, with:
- Wave A dropping to $0.00002223 (mid-range retracement),
- Wave B bouncing weakly within downtrend resistance,
- Wave C testing deeper support near $0.00001889 or even $0.00001591 if selling pressure intensifies.
These levels align with prior consolidation zones and represent historically strong demand areas where buyers previously stepped in.
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Frequently Asked Questions (FAQ)
What is driving BONK’s current price surge?
BONK’s rally is primarily driven by renewed speculative interest, strong technical breakout patterns, and its position within a larger bullish impulse wave. The completion of a prolonged correction set the stage for this aggressive move upward.
Is BONK likely to reach $0.00003?
Yes—$0.00003 falls within the 1.272 Fibonacci extension target of $0.00003199. While ambitious, this level is achievable if momentum holds and volume supports continued buying pressure during wave (v).
What does RSI divergence mean for BONK?
Bearish RSI divergence indicates weakening momentum despite rising prices. In BONK’s case, it suggests the current rally may be entering its final phase, increasing the likelihood of a pullback after one last high.
Where should traders take profits on BONK?
Traders may consider partial profit-taking at $0.00002585 and $0.00002855, with full exits near $0.00003199 if momentum shows signs of fading. Stop-losses can be placed below $0.00002156 to protect gains.
Can BONK resume its uptrend after a correction?
Absolutely. Corrections are natural in strong trends. A healthy ABC pullback to $0.00001889 or $0.00001591 could set up another bullish impulse, especially if broader market conditions remain favorable.
How reliable is Elliott Wave analysis for meme coins like BONK?
While meme coins are highly volatile, Elliott Wave theory can still provide valuable structure when combined with volume and momentum confirmation. For short-to-medium-term trades, it offers actionable insight into potential turning points.
Final Thoughts
BONK remains in a strong bullish structure, with all signs pointing to a final leg of its current impulse wave. While upside potential still exists—especially toward $0.00002855 and beyond—traders must remain vigilant due to emerging RSI divergence and tightening resistance zones.
The path forward likely includes one last surge followed by a meaningful correction. By monitoring key Fibonacci levels and momentum shifts, investors can position themselves ahead of both breakout opportunities and strategic pullbacks.
Whether you're trading short-term momentum or positioning for longer-term cycles, understanding BONK’s technical framework enhances decision-making in a fast-moving market environment.
Note: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk—always conduct your own research and consult with a qualified financial advisor before making any trading decisions.