BONK Price Prediction: Can a Neckline Retest Spark a 100% Rally?
BONK price prediction is gaining attention as the token nears a pivotal technical level, following an impressive inverse head and shoulders breakout. Traders and analysts are closely monitoring if BONK can capitalize on this setup for a potential 100% surge.
BONK Price Prediction: Technical Setup and Neckline Retest
BONK currently hovers around $0.000021, having recently broken the neckline of an inverse head and shoulders pattern near $0.00002. This breakout has positioned the token for a promising bullish move, but BONK is now retesting the neckline as potential support. If buyers step in at this level, the rally could extend further.
Respected analyst Jonathan Carter suggests that holding the neckline could unlock a 100% upside. His projected targets include $0.000024, $0.000030, $0.000037, $0.000041, and $0.000052. At present, BONK has gained 5% over the past 24 hours, though it remains 2% lower week-on-week. Daily trading volume exceeds $225 million, reflecting solid liquidity and interest.
Following the initial breakout, BONK formed a bullish flag—a classic consolidation pattern that, if resolved to the upside, often leads to sharp gains. The token is also trading above its 200-day moving average, signaling long-term strength. Meanwhile, the Relative Strength Index (RSI) remains neutral, indicating a balanced market between buyers and sellers.
BONK Derivatives Market: Mixed Sentiment Amid Bullish Setup
Despite the strong technical foundation, BONK’s derivatives market tells a more cautious story. Open Interest (OI) in BONK futures has dropped from $73 million in July to $29 million now, according to CoinGlass. This suggests traders are wary, possibly waiting for confirmed momentum before increasing risk exposure.
Analyst AltwolfCrypto emphasized the need for BONK to reclaim the daily 200EMA and surpass $0.000022 before a decisive trend reversal can be confirmed. He also noted that BONK is still down over 50% from previous highs, highlighting ongoing volatility.
BONK on Institutional Watchlists
In a noteworthy development, BONK was recently added to Grayscale’s asset monitoring list. While this does not indicate a direct investment, it signals growing interest from institutional players and could pave the way for broader adoption if key levels are maintained.
As the market focuses on BONK’s ability to hold its neckline and break above the flag pattern, the next move could be decisive for the token’s trajectory. If bulls succeed, the BONK price prediction of a 100% rally may soon take center stage.
For a comprehensive look at open interest and market sentiment, visit CoinGlass.
What’s Next for BONK Price Prediction?
With technical and fundamental factors converging, the crypto community is keenly watching whether BONK’s bullish momentum will resume. The retest of the neckline could serve as a launchpad for further gains, making BONK price prediction a hot topic in current market discussions.
