Analyst Predicts Massive BONK Price Breakout, Target
Solana-based meme currency BONK has been held in a tight range for 24 hours as it approaches a key junction that will define a rise in the next days. After a week of fascinating market behavior, the meme currency broke above and crashed in less than 24 hours.
The BONK price is stabilizing after finding support. According to crypto researcher World Of Charts, this consolidation period is building momentum for a breakout, which might send prices higher.
Massive BONK Price Breakout Coming
Crypto analyst World Of Charts posted an intriguing BONK price analysis on social media site X. A BONK price chart showing a trend since 2024 accompanied his article. BONK has been moving in a symmetrical triangle with lower highs and higher lows, according to the chart.
The BONK price chart indicates that the meme currency has repeatedly challenged the top trendline of its symmetrical triangle. Most last breakthrough attempt at end of September saw price approach upper trendline after peaking at $0.00002557 before dropping back severely.
The BONK price has been retesting and consolidating around this upper trendline, with World Of Charts predicting an upward breakthrough. The expert predicted an upward breakthrough and a 168% price increase. This would set up a strong rally to $0.000062.
Future of Meme Coin?
World Of Chart predicts a breakthrough for BONK, which might break its all-time high of $0.00004547 by the end of the year. BONK was trading at $0.000023 when he analyzed it retesting the symmetrical triangle's top trendline.
In the previous 24 hours, BONK has fallen further and failed to break above the upper trendline. Meme coin is trading at $0.00002094, down 0.9% in a day. The overall trend remains optimistic despite this short-term decrease. A bullish move to the higher is still possible as BONK is up 26% in the previous 30 days.
BONK's price inability to break above the trendline suggests a continuing decline.