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Bonk (BONK) To Rise Further? Key Pattern Suggests Potential Upside Move
By: coinsprobe|2025/05/09 11:45:01
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Date: Fri, May 09, 2025 | 03:10 AM GMTThe broader crypto market continues to surge, with Ethereum (ETH) setting the tone — rallying over 57% in the past month and now trading above the $2,200 mark. This renewed momentum has also spilled into memecoins, with Bonk (BONK), the Solana-based favorite, jumping 114% over the same period.BONK is up more than 14% today alone, and now a textbook technical pattern is hinting that this rally may have more room to run.Source: CoinmarketcapPower of 3 Pattern in PlayZooming into the 4-hour chart, BONK has printed what appears to be a classic “Power of 3” setup — a market structure used by smart money traders that involves three core phases: accumulation, manipulation, and expansion.Bonk (BONK) 4H Chart/Coinsprobe (Source: Tradingview)Accumulation Phase: From April 26 to May 3, BONK consolidated in a tight range below $0.000022, creating a zone where large players likely built positions quietly.Manipulation Phase: On May 3, BONK briefly broke down from this range, dipping to around $0.000016. This sudden drop likely triggered stop-losses — a typical “fake-out” used to shake out retail traders.Expansion Phase: Following the fake-out, BONK sharply rebounded and has now entered the expansion phase, reclaiming the $0.000020 level and approaching the key $0.000022 resistance once again.What’s Next for BONK?If BONK can cleanly break and close above $0.000022, it would confirm the expansion leg of the Power of 3 pattern. From there, the technical projection points to a move towards $0.000028 — a potential 38% gain from the breakout point.This upside target aligns with the green projection zone highlighted in the chart, showing where smart money might be aiming to offload or take profits.Final ThoughtsBONK’s current price structure looks strong, especially with the broader market backing altcoin momentum. While nothing is guaranteed in crypto, this Power of 3 setup — if confirmed — could be the launchpad for BONK’s next leg higher.That said, traders should watch for a confirmed breakout above $0.000022 with strong volume before jumping in. A rejection at this level could lead to more consolidation or a retest of lower supports.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in cryptocurrencies.
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