Technical analysis by The_Alchemist_Trader_ about Symbol BONK: Buy recommendation (11/8/2025)

BONK price action is currently holding firm at a key weekly support region, an area that has seen multiple candle closes above in recent sessions. The latest engulfing candle suggests renewed buyer interest, though confirmation is still required for a clear directional move. As long as price remains between the weekly support and daily support, the market remains range-bound until proven otherwise. A breakout from this range must occur with strong volume and impulsive momentum to confirm a shift toward higher resistances. Without such validation, the current structure may continue oscillating within its established boundaries. Key Points: - Weekly Support Holding: Price continues to defend this critical structural zone. - Range-Bound Behavior: Trading confined between weekly and daily supports until breakout. - Volume Confirmation Needed: A bullish influx of volume is essential for sustainable breakout strength. From a technical perspective, the current region remains pivotal — a loss of weekly support would increase the probability of a deeper corrective move, while sustained defense could lay the foundation for upside continuation. What to Expect: As long as BONK holds above its weekly SR, expect gradual bullish continuation toward higher resistances. A breakdown below this level, however, would confirm renewed bearish momentum and open the path to lower liquidity zones.