- The broader crypto market continues to surge with Ethereum rallying over 57% in the past month, spilling momentum into memecoins like Bonk (BONK) which has jumped 114% over the same period.
- BONK has formed a classic 'Power of 3' pattern on the 4-hour chart, involving accumulation, manipulation, and expansion phases that smart money traders use.
- The token is currently in the expansion phase after reclaiming the $0.000020 level and approaching key resistance at $0.000022.
- If BONK breaks above $0.000022, technical projections point to a potential move towards $0.000028, representing a 38% gain from the breakout point.
Date: Fri, May 09, 2025 | 03:10 AM GMT
The broader crypto market continues to surge, with Ethereum (ETH) setting the tone — rallying over 57% in the past month and now trading above the $2,200 mark. This renewed momentum has also spilled into memecoins, with Bonk (BONK), the Solana-based favorite, jumping 114% over the same period.
BONK is up more than 14% today alone, and now a textbook technical pattern is hinting that this rally may have more room to run.
Power of 3 Pattern in Play
Zooming into the 4-hour chart, BONK has printed what appears to be a classic “Power of 3” setup — a market structure used by smart money traders that involves three core phases: accumulation, manipulation, and expansion.
- Accumulation Phase: From April 26 to May 3, BONK consolidated in a tight range below $0.000022, creating a zone where large players likely built positions quietly.
- Manipulation Phase: On May 3, BONK briefly broke down from this range, dipping to around $0.000016. This sudden drop likely triggered stop-losses — a typical “fake-out” used to shake out retail traders.
- Expansion Phase: Following the fake-out, BONK sharply rebounded and has now entered the expansion phase, reclaiming the $0.000020 level and approaching the key $0.000022 resistance once again.
What’s Next for BONK?
If BONK can cleanly break and close above $0.000022, it would confirm the expansion leg of the Power of 3 pattern. From there, the technical projection points to a move towards $0.000028 — a potential 38% gain from the breakout point.
This upside target aligns with the green projection zone highlighted in the chart, showing where smart money might be aiming to offload or take profits.
Final Thoughts
BONK’s current price structure looks strong, especially with the broader market backing altcoin momentum. While nothing is guaranteed in crypto, this Power of 3 setup — if confirmed — could be the launchpad for BONK’s next leg higher.
That said, traders should watch for a confirmed breakout above $0.000022 with strong volume before jumping in. A rejection at this level could lead to more consolidation or a retest of lower supports.
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