BONK price lost 50% in 60 days and struggles to break above key resistance.
A breakout above $0.0000125 could push BONK toward $0.0000220 and higher targets.
Failure to break the resistance may pull the BONK price down to the wards $0.0000088 bearish target.
Bonk (BONK) price has dropped sharply in the past two months, losing nearly 50% of its value. The current price is $0.00001116, down 4.84% in the past week.BONK crypto remained one of the most talked-about memecoins in the Solana ecosystem. However, it has struggled to maintain bullish momentum.Recent chart data from Analyst Crypto Target identified a falling wedge formation, often seen as a reversal setup. The price tests a key resistance, and the outcome may shape the next move.
Falling Wedge Signals Imminent Breakout for BONK Crypto
BONK crypto continues to trade inside a falling wedge, which formed in early 2025. This pattern is visible on the daily chart shared by Crypto Target. The wedge’s upper trendline has rejected several bullish attempts.Source: Crypto Target, XDespite these failures, the pattern’s narrowing range suggests that a breakout could soon happen. The resistance trendline sits around the $0.0000125 level. This has been the ceiling for recent rallies.The falling wedge turned bullish when broken to the upside with volume support. However, BONK crypto price needs to close above this resistance to validate the move.Until that happens, the bearish structure stays in control. The chart shared by Crypto Target shows a potential move toward $0.000022 if a clean breakout occurs.
Momentum Indicators Remain Mixed
BONK’s momentum indicators do not yet confirm a reversal. The Relative Strength Index recently failed to climb above the neutral 50 level.RSI hovering below 50 shows weak buyer interest. It must move above that line and sustain signal strength. As long as it stays low, sellers continue to dominate the market.The MACD indicator has recently issued a death cross signal, reinforcing the bearish outlook for the market. This occurred as the MACD line crossed below the signal line, with the entire histogram remaining in negative territory.This technical signal suggests that bearish pressure remains strong and continues to dominate the trend. If RSI and MACD fail to give a positive crossover signal, it would be challenging for BONK price to sustain above this level.MACD and RSI bear a pro-technical outlook of the market despite the wedge formation on the bullish side.
Resistance Levels to Watch on the Upside
The first critical resistance is $0.0000125. BONK crypto must clear this to confirm the wedge breakout. If successful, the next resistance stands near $0.0000160.This level was previously supported in February but flipped into resistance after a major sell-off. A push beyond this point could open the path to $0.0000220.A sustained breakout could later target $0.0000330. This area acted as a major supply zone during the January rally. However, a move of that scale wouldn’t be possible without corresponding high volume and all positive signs on the indicators.Currently, BONK is still below the breakout level. The falling wedge pattern provides hints for some potential, but this has not yet been confirmed.
Support Zones Below Show Downside Risk
In case of price failure in breaking out, new targets for the downside are achieved. The first support is near $0.0000105, where BONK crypto recently reacted. Below that, the corresponding bearish target is 0.0000088.This level aligns with the 0.236 Fibonacci retracement of BONK’s larger bull run. It also matches the zone mentioned in earlier projections as a key support base.BONK Price Performance | Source: TradingViewCrypto Target stated that failing to break through the wedge could result in a drop to this level. A breakdown would eliminate the bullish outlook and affirm the bearish dominance.Due to weak escalation and the rejection near the resistance level, such an outcome remains quite Bearish. For now, BONK price trades below major resistance at $0.00001116. The following days and weeks may determine if it goes higher or retests the lower levels of support.
