The memecoin BONK is catching the eye of traders once again, with a powerful technical pattern – the double bottom – potentially emerging on the charts. If confirmed, the price could surge in the coming hours. Stay tuned for a detailed analysis and key levels to watch.
The BONK (BONK) price is currently approaching a critical support zone on its chart. This zone, loaded with technical confluence, could trigger the formation of a bullish double bottom structure if buyers manage to defend it. The coming trading sessions will be decisive in validating whether BONK is ready to reverse the trend or if it’s still searching for its true support level.
The point of control, which is the most traded level in BONK’s current range, represents the current battlefield. If buyers manage to maintain it, this could signal a return of demand and the establishment of a bottom. So far, the price shows signs of hesitation, with smaller candles and no clear evolution, suggesting indecision among participants in the crypto market.
If the point of control doesn’t hold, the price will likely drop towards the low value area, which coincides with a previous swing low. This level offers significant technical confluence : it’s where liquidity exists, where previous buyers stepped in. It’s also where market makers often trigger reversals. If BONK forms a bottom at this level, completing a double bottom, it would be a classic configuration signaling a potential return towards the range highs.
If BONK manages to defend the point of control or falls to the low value area with increasing volume, a double bottom could form, launching a recovery movement. However, the absence of such volume increases the risk of continued weakness.
The upcoming sessions will be crucial to validate whether BONK is ready to reverse or if it’s still seeking its true support. Investors should remain attentive to further developments of this potentially bullish technical pattern.
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