BONK Surges 5% in Rapid V-Recovery as Traders Watch for Breakout Potential

BONK Surges 5% in V-Shaped Bounce as Bulls Eye Higher Targets

Solana’s memecoin BONK has posted a 4.65% gain, trading around $0.00002202, following a sharp V-shaped recovery that’s ignited hopes for an upcoming breakout.

The rebound kicked off after BONK dropped to $0.000020 on July 9 at 15:00 UTC, where buying pressure from larger players helped stabilize the price. The token’s strongest rally came during the early hours of July 10, soaring from $0.000021 to $0.000023 between 02:00 and 05:00 UTC, fueled by rising trading volumes.

Bullish Signals Flashing

Analysis from CoinDesk Research suggests BONK’s trend remains positive:

• The 20-day exponential moving average (EMA) is turning upward.
• The relative strength index (RSI) is still showing bullish readings.
• A golden cross could soon appear as the 50-day EMA edges closer to overtaking the 200-day EMA—a classic signal for sustained uptrends.

Levels Traders Are Watching

• Resistance sits at $0.00002389; a breakout here could propel BONK toward $0.000026.
• Pushing above $0.000026 would confirm a double bottom pattern, opening a potential path to $0.000041.
• Intermediate resistance ranges between $0.00002577 and $0.00002840.
• Support holds firm at $0.000020, the area of recent accumulation.

Market Snapshot

• Bounce range: BONK rose from $0.000020 to $0.00002202 (+4.65%).
• Current price: Near $0.00002128, showing a minor intraday pullback.
• Momentum outlook: The bullish trend remains intact, with traders watching for a decisive move above key resistance levels.