BONK Jumps 5% in Swift V-Rebound as Bulls Set Sights on a Breakout

BONK Jumps 5% in V-Shaped Rebound as Bulls Eye Breakout Levels

Solana-based memecoin BONK surged by 4.65% to reach $0.00002202, staging a strong V-shaped recovery fueled by growing market interest and bullish technical signals hinting at a potential breakout from recent consolidation.

The upward move started after BONK dipped to $0.000020 on July 9 at 15:00 UTC, where buying interest from larger traders stabilized prices. The sharpest gains came early on July 10, with the token climbing from $0.000021 to $0.000023 between 02:00 and 05:00 UTC, accompanied by a significant increase in trading volume.

Technical Signals Point to Continued Strength

CoinDesk Research’s technical analysis model indicates BONK remains in a bullish posture:

The 20-day exponential moving average (EMA) is trending upward.
The relative strength index (RSI) continues to hold in bullish territory.
A golden cross is close to forming, with the 50-day EMA approaching a cross above the 200-day EMA — often seen as a long-term bullish indicator.

Key Price Levels to Watch

Immediate resistance lies at $0.00002389; a breakout above this could send prices toward $0.000026.
A sustained move beyond $0.000026 would confirm a double bottom pattern, pointing to a potential target near $0.000041.
Intermediate resistance zones are clustered between $0.00002577 and $0.00002840.
On the downside, strong support remains at $0.000020, the level where recent accumulation occurred.

Market Snapshot

V-shaped recovery: BONK rebounded from $0.000020 to $0.00002202 (+4.65%)
Current trading: Around $0.00002128, reflecting mild intraday pullback
Momentum outlook: The bullish trend remains intact, with crucial resistance levels in focus for the next breakout attempt