BONK at Critical Level After 28% Weekly Drop

TL;DR

• BONK retests $0.000025 neckline with cup-and-handle sample, suggesting doable 100% upside rally.
• Analysts spotlight earlier resistance turning help as merchants await a bounce or additional draw back.
• Grayscale monitoring sparks institutional curiosity as BONK holds close to important help amid heavy buying and selling.

BONK Teeters Earlier than Potential Breakout

Bonk (BONK) trades beneath $0.000026 after falling 8% previously 24 hours and 27% over the past week. Buying and selling quantity reached $570 million in the identical interval. Market consideration is on a key help zone that would decide the following transfer.

Crypto analyst Jonathan Carter stated BONK is retesting its neckline at $0.000025, forming what he recognized as a cup-and-handle sample, which is commonly seen throughout bullish continuation phases.

Carter stated, 

“sample completion mixed with a neckline maintain might lead to 100% upside.” 

His value targets are $0.000035, $0.000037, $0.000041, and $0.000052. He famous that buying and selling quantity elevated on the suitable facet of the sample, which might verify market curiosity throughout a possible breakout.

#BONK Neckline Retest – Bulls Able to Bounce

Cup and deal with sample executing flawlessly close to the $0.000025 help zone‍♂️

Sample completion + neckline maintain = 100% upside

Goal ranges: $0.000035 → $0.000037 → $0.000041 → $0.000052

That is the setup that doubles… pic.twitter.com/Lb98rWSjDZ

— Jonathan Carter (@JohncyCrypto) August 1, 2025

Curiously, technical readings present the Relative Power Index (RSI) has cooled from earlier highs, giving room for one more upward transfer if shopping for returns.

Patrons Watch Earlier Resistance as Help

Analyst BATMAN shared that BONK’s latest pullback is approaching a earlier resistance space, now a possible help zone between $0.000025 and $0.000026.

“If it dips a bit decrease into that blue field, that’s the spot I’d be trying to purchase,” he stated. 

A restoration from this zone might maintain the bullish setup intact. A break beneath the realm, nonetheless, would recommend fading short-term power.

Institutional Monitoring Provides Curiosity

Final month, BONK was added to Grayscale’s institutional monitoring record. Whereas this doesn’t verify funding, merchants see it as a step which will deliver broader market visibility.

Market members at the moment are centered on whether or not BONK can maintain its neckline help and set off the following leg of the cup-and-handle sample or if the decline continues within the close to time period.