Bonk (BONK) Bounces Off Key Support – Could This Pattern Trigger an Upside Breakout?

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CoinsProbe2025/10/05 19:27

By:Nilesh Hembade

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Date: Sat, Oct 04, 2025 | 06:54 AM GMT

The cryptocurrency market is showing strength as both Bitcoin (BTC) and Ethereum (ETH) have surged over 11% in the past 7 days. Riding this resilience, several memecoins are starting to flash bullish signals — and Bonk (BONK) is one of them.

BONK jumped 6% today, extending its weekly gains to over 10%. But what really makes it stand out is its technical setup, which looks like it could be preparing for a potential bullish breakout.

Bonk (BONK) Bounces Off Key Support – Could This Pattern Trigger an Upside Breakout? image 0

Source: Coinmarketcap

Falling Wedge in Play

On the daily chart, BONK is forming a falling wedge pattern — a classic bullish reversal structure that typically appears toward the end of prolonged downtrends.

In its latest move lower, BONK dipped to around $0.00001828 after being rejected at the wedge’s upper boundary. However, buyers stepped in quickly at this key support level, sparking a rebound that has lifted the token to around $0.00002146, now testing the wedge resistance trendline.

Bonk (BONK) Bounces Off Key Support – Could This Pattern Trigger an Upside Breakout? image 1

BONK Daily Chart/Coinsprobe (Source: Tradingview)

This tightening wedge indicates that momentum is coiling up, with a decisive move likely on the horizon.

What’s Next for BONK?

If bulls manage to push BONK above the wedge resistance and reclaim the 100-day moving average at $0.00002390, it would likely confirm a bullish breakout. A successful breakout could open the door for a rally toward the next big target near $0.00004079, which lines up with the wedge’s measured move projection.

On the flip side, if BONK fails to break out, the token could once again revisit its wedge support before attempting another push higher.

For now, momentum looks encouraging, and traders are watching closely to see if BONK can finally break through.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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