- BONK has surged 5% over the past 30 days and appears to be forming a 'Power of 3' pattern on its 4-hour chart, cycling through accumulation, manipulation, and expansion phases.
- The memecoin is currently testing key resistance at $0.000018, with a successful breakout potentially confirming transition into the expansion phase.
- Technical indicators are showing bullish signals, with MACD looking to cross above the signal line and BONK testing the 50-period moving average.
- If BONK breaks above resistance levels, analysts project potential targets of $0.000022 and $0.000028, representing up to 27% upside from the breakout point.
Date: Tue, May 06, 2025 | 07:50 AM GMT
The cryptocurrency market has seen a much-needed relief rally over the past couple of weeks following a rocky start to 2025. Ethereum (ETH), for instance, plummeted nearly 45% in Q1 but has since bounced back with a strong 30% recovery from its April 9 low. This optimism is now rippling across the market— and Bonk (BONK), the Solana-based memecoin, is catching traders’ attention.
BONK has surged by an impressive 5+% over the last 30 days, and current technicals suggest the rally may not be over just yet.
Power of 3 in Play?
Zooming into BONK’s 4-hour chart, a classic “Power of 3” setup appears to be unfolding — a pattern known for cycling through accumulation, manipulation, and expansion phases.
- Accumulation Phase: From April 26 to May 3, BONK moved sideways within a tight range, showing typical signs of accumulation as traders built positions.
- Manipulation Phase: Since May 4, the price dipped below support, likely triggering stop-losses and shaking out retail traders — a hallmark of the manipulation phase. This “fake-out” is often a precursor to a bigger move.
Currently, BONK is challenging the key resistance level at $0.000018, which marks the low of the previous accumulation zone. A successful breakout above this level would confirm a transition into the expansion phase.
The next target would be $0.000022 — the high of the previous accumulation range. If BONK manages to close above that, the chart hints at a strong upward move toward $0.000028, representing a potential 27% upside from the breakout point.
The MACD on the 4H chart is starting to flip bullish, with the MACD line looking to cross above the signal line — often a reliable indicator of building buying momentum. BONK is also testing the 50-period moving average, which could act as a launchpad if broken with volume.
Final Thoughts
BONK’s technical setup is aligning with a potential breakout scenario, especially if the Power of 3 pattern fully plays out. Combined with a recovering market backdrop, the memecoin might be ready to post fresh gains.
Still, as with any crypto play — especially memecoins — volatility can cut both ways. The expansion phase remains unconfirmed until BONK decisively clears resistance.
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