The token is testing a key support zone that aligns with multiple technical confluences, hinting that the selling pressure may be easing.
Large holders have been actively accumulating BONK, reportedly purchasing around 80 billion tokens, which adds further strength to the market’s bullish potential.
Price Analysis: Double Bottom, Symmetrical Triangle, and Upside Potential
On the daily chart, BONK/USD is consolidating within a symmetrical triangle, a formation that often precedes a breakout.
Also, another notable development is the formation of a double-bottom pattern near the support zone, a classic reversal signal indicating potential exhaustion of selling pressure.
Currently trading around $0.00001889, BONK is positioned near the triangle’s apex. If the double-bottom pattern plays out and the price breaks above the descending resistance line, bullish targets come into focus, with a key level around $0.0000376, representing a potential 100%+ upside.
Source: TradingView
The Relative Strength Index (RSI) sits at 37.35, signaling oversold conditions and supporting the likelihood of a rebound. While the MACD has not yet produced a bullish crossover, signs of convergence could favor upward momentum if confirmed.
On the other hand, a breakdown below the ascending support trendline would invalidate the bullish setup, opening the door to a potential decline toward $0.00000696, a level that coincides with previous demand zones. This would mark a significant drop of over 64%.
100% Rally Incoming?
BONK is at an important moment. The combination of a symmetrical triangle, double-bottom formation, and oversold indicators suggests a potential breakout.
Traders should monitor volume spikes and resistance breakouts carefully, as a confirmed move could set the stage for a massive 100%+ rally.
As BONK Eyes Breakout, New Doge Presale Raises $2.6 Million
With BONK eyeing a 100% rally, Maxi Doge ($MAXI) is shining as a high-energy meme coin that combines cryptocurrency trading with a culture of discipline, strength, and motivation.
Inspired by a muscular, gym-focused version of Doge, the project emphasizes persistence, confidence, and intensity, encouraging its community to approach both fitness and trading with determination.
The primary goal of Maxi Doge is to empower individual traders who aspire to significant gains but may not have the resources of institutional players.
Through a strong meme-driven identity, $MAXI motivates holders to be bold and committed, treating both workouts and market strategies with the same level of intensity.
Maxi Doge holders can stake their tokens to earn daily automated rewards and participate in weekly trading competitions and gamified tournaments through partner futures platforms.
A dedicated Maxi Fund ensures liquidity and supports marketing, while the project’s humor and striking gym-themed visuals help attract new participants and reinforce its identity.
Notably, the early backers of the project are eligible to earn up to 129% annual staking rewards after purchasing tokens via a supported wallet, like Best Wallet.
To buy $MAXI before the next price increase, you can visit the official Maxi Doge website and connect your wallet.
You can use crypto to pay or a debit/credit card to complete your $MAXI purchase.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/bonk-price-prediction-double-bottom-oversold-signal/