$BONK Price Prediction: Slow Moves Ahead - BeinCrypto Analytics

Since early September, the CMF indicator for BONK has been on the rise, signaling growing capital inflows and increasing investor confidence in the meme coin's potential. However, just as BONK neared a critical resistance level at $0.00002400, the CMF exhibited a downtick, indicating a retreat in investor sentiment. This shift contributed to BONK's inability to break through resistance, leaving it trapped below key levels.

BONK has been trading within a descending wedge since mid-May, and a breakout appeared imminent this week. Historical patterns suggested a potential 92% rally upon breakout, possibly pushing BONK back to its all-time high of $0.00004800. However, the recent failed breakout has dampened these expectations, and if the coin cannot maintain its current support at $0.00002153, it risks entering a consolidation phase above $0.00001732.

For BONK to regain bullish momentum, stronger bullish cues will be essential. Nevertheless, a broader bullish sentiment in the crypto market could reverse BONK’s fortunes. A confirmed breakout would require flipping the resistance at $0.00002748 into support, invalidating the bearish outlook and possibly igniting a rally toward previous highs.