Date: Thu, July 10 2025 | 06:40 AM GMT
The cryptocurrency market witnessed a major milestone today as Bitcoin (BTC) hit a new all-time high of $112K, while Ethereum (ETH) followed closely behind with an impressive 5% daily jump. This wave of bullish sentiment is lifting major altcoins and memecoins — and among them, Solana-based Bonk (BONK) is gaining serious attention.
Although BONK has already delivered strong performances recently, the chart is now showing signs that its rally may be far from over.
Cup and Handle Pattern in Play
On the daily chart, BONK appears to be forming a textbook Cup and Handle pattern — a bullish continuation setup that often signals the resumption of an uptrend. The rounded base (cup) developed between February and May, as BONK bottomed and began its recovery.
This was followed by a downward-sloping handle, which served as a healthy consolidation phase from late May to early July. Such consolidation often shakes out weak hands and builds momentum for the next leg higher.
Since June 18, BONK has started moving upward from the lower part of the handle, rising from the $0.000018 zone to the current level near $0.000021.
What’s Next for BONK?
If this pattern continues to play out, the next immediate target would be the neckline resistance at around $0.00002580. A breakout above this level would confirm the Cup and Handle formation and open the door to a potential technical target near $0.000043, based on the depth of the cup pattern.
Traders will be watching closely for a clean breakout above the neckline with volume support to validate the pattern.
Until then, BONK may either continue to consolidate or retest lower levels, but the structure remains bullish — and the breakout setup is one to watch.
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