Technical analysis by shakhitami about Symbol BONK on 7/23/2025

BONK/USDT (1W) BONK is showing a strong bounce from long-term support! 🚀 After touching the strong weekly support zone around 0.00000947, BONK surged with significant volume, breaking out of the descending mini-channel. The price is now approaching the 0.00005054 resistance level, which previously acted as a rejection point. 📊 Key Points: •Support: 🔻 0.00000947 – major long-term support •Resistance: 🔺 0.00005054 – key resistance and potential breakout target •RSI (14): RSI is sharply rising and crossing above its moving average, suggesting bullish momentum building up. •Volume: A strong volume spike confirms increased buying interest from the bottom. ⸻ 🔍 Outlook: As long as BONK holds above 0.00002, bulls have a good chance to push toward 0.00005. A breakout above this level could lead to a strong rally. Watch for RSI overbought conditions in the coming weeks. ⸻ #BONK #BONKUSDT #Crypto #Altcoins #TradingView #TechnicalAnalysis #MemeCoins #Bullish