Date: Thu, May 15, 2025 | 09:20 AM GMT
The cryptocurrency market has shown strong upside strength, with Ethereum (ETH) leading the charge. ETH has climbed more than 55% over the past month and is now trading near the $2,550 mark — its highest level in months. This resurgence is also lifting sentiment across major memecoins, including Bonk (BONK).
BONK is currently showing monthly gains of over 67%, but with today’s drop, a key breakout is being retested — suggesting that another bounce back might be on the horizon.
Retesting the Cup and Handle Breakout
On the daily chart, BONK has formed a textbook cup and handle pattern — a well-known bullish reversal setup that often signals a transition from a downtrend to a new bullish phase.
After a rounded consolidation that formed the cup, BONK dipped slightly to complete the handle. It then bounced from a low of $0.000016, supported by the 100-day moving average, and broke above neckline resistance at $0.000020. This breakout pushed the price to a local high of $0.000025.
However, BONK faced resistance and retraced more than 13%, bringing it back to the breakout zone around $0.000020. This area is now acting as critical support.
What’s Next for BONK?
The current retest of the $0.000019–$0.000020 zone is a crucial technical moment. If buyers step in and BONK holds above this range, it would confirm the bullish retest and potentially spark another rally.
The target for the cup and handle breakout is around $0.0000312, this implies a potential 40% upside from current levels if the pattern plays out.
BONK’s ability to bounce from here may depend on broader market sentiment — particularly whether Ethereum can maintain its momentum and keep lifting the rest of the market. If that happens, BONK could be gearing up for its next leg higher.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
