Accumulation Phase Could Trigger a New Rally
(BONK/USDT Perpetual Contract – Daily Chart, Tradingview)
Introduction
BONK has been one of the most watched meme coins in the crypto space. After its explosive rally in June–July that broke the previous Higher High (HH), the price entered into a healthy correction phase. Right now, BONK is hovering above a critical support zone, showing signs of potential accumulation.
In this analysis, we’ll break down the latest BONK price action, highlight key retracement levels, and share short-term and mid-term price targets that traders should keep an eye on.
BONK Price Action Overview
- Massive Rally in June–July: Price broke the previous HH, confirming bullish strength.
- Break of Structure (BoS): The breakout confirmed a shift in market momentum.
- Correction & Pullback: After rallying, price retraced for a healthy correction.
- Support Holding Strong: Currently trading above a major support zone, indicating potential accumulation.
Key Levels to Watch
The Golden Retracement Zone (0.618 – 0.750)
This zone is often referred to as the “Golden Reversal Zone” in trading. BONK is holding above this level, which significantly increases the probability of an upward move.
Support & Demand Zones
- Immediate Support Zone: Around $0.018 – $0.020
- Demand Zone (Yellow Area): Around $0.032 – $0.035
As long as BONK remains above its key support, the chances of accumulation and breakout remain high.
Trading Strategy
Currently, the best approach is accumulation within the support zone. The longer BONK consolidates here, the stronger the potential breakout. Traders should also keep an eye out for any manipulation attempts below the zone (fakeouts), which often occur before a major move upward.
BONK Price Targets
- Short-Term Target: $0.025
- Mid-Term Target: $0.030 – $0.0425
If BONK sustains above the support zone, these levels could be tested in the upcoming weeks.
Final Thoughts
BONK is showing promising signs of accumulation after a strong correction phase. With the golden retracement zone acting as a potential reversal point, this could be the beginning of another rally.
As always, remember that meme coins are highly volatile. Manage your risk properly and never invest more than you can afford to lose.