BONK Price Analysis Targets $0.00000350 if Buyers Clear Channel Resistance

BONK’s price has dropped 1.75% in the past 24 hours and currently sits near $0.00000310, according to BONK price analysis.

Notably, BraveNewCoin records a $0.00000304 to $0.00000318 range, leaving the price near its lower half. Price has come in for price compression now over two different timeframes. The daily chart is set up for BONK to break the channel resistance, and intraday money flow is negative after a late bounce.

BONK Price Analysis Tests Channel Resistance

BONK is moving towards recovery from a minor August low of $0.00000220 on the daily chart, as seen on X by GB Crypto. Since then, the price has begun to make a rounded move towards breaking down a high-timeframe resistance level.

That trendline appears near the $0.00000335 to $0.00000350 region. If it fails to close above that, then the trend of lower highs since July will continue.

The buyers have not confirmed a breakout. This chart reveals a consolidation pattern instead of the formation of a bullish expansion, as BONK continues to trade below the line. Source: GB Via X

Three Fibonacci support levels have been drawn below the market by the analyst. They stand at $0.00000295, $0.00000278, and $0.00000253.

If I had $0.00000295, I would keep it. If I had $0.00000295, I would hold on to that. The $0.00000278 level may be a lower low if the move continues back to it.

A loss of $0.00000253 would make that structure vulnerable and bring the August bottom on the table. GB Crypto is showing about a 20% pullback from its level of preferred support.

In the same post, the potential 10x upside to another lower high is shown. But there’s no actual price target for that case on the chart.

Daily Market Data Shows Fading Momentum

Brave New Coin has valued BONK at $273.09 million, and its tokens are 87.99 trillion in number. The reported daily volume is close to $43.17 million.

According to market data, the price hit $0.00000318 during the session but did not sustain its momentum. The 24-hour curve then dropped, and the price quoted is $0.00000310. Source: BraveNewCoin

The initial resistance up is at $0.00000318 after this rejection. Bulls should take it back to test the bigger $0.00000335 to $0.00000350 range before attacking the $0.00000330 to $0.00000350 channel.

Support starts from around the session low of $0.00000304. The psychological $0.00000300 level is followed by $0.00000295, which is the initial Fibonacci support.

BONK also trades 94.67% below its November 2024 record of $0.00005825. This recovery is far below the previous market peak, however.

Technical Signals: Weak Buying Pressure

BONK is recovering from a $0.00000305 low on the one-minute chart on TradingView. Then, Price is moving sideways under the intraday high.

When Bollinger Band buy and sell signals repeat, there are often short-term reversals. The two signals represent range trading without any clear direction.

Chaikin Money Flow is currently at -0.18. This negative reading indicates that selling pressure during the period exceeds capital inflows during the same period. Source: TradingView

The money flow for this price stability is not strong, so the price level of $0.00000312 is not strongly confirmed. The short-term outlook would be strengthened with any move above $0.00000315.

The ceiling of the descending channel could be tested if and when $0.00000318 is cleared. Losing $0.00000305 exposes $0.00000300, followed by $0.00000295.