BONK Technical Analysis Shows Expanding Momentum After Major Resistance Break
BONK’s latest market action reflects a decisive structural shift as the memecoin surged through a critical resistance level on heightened activity. Shortly after the breakout, a corrective pullback carved out new support, reshaping trader expectations entering December. The chart structure indicates an evolving battle between buyers reclaiming territory and sellers defending overhead supply zones.
BONK Breaks Resistance as Volume Surges
Over the past session, trading volume jumped more than 85% above its recent average, fueling BONK’s push through a key overhead band highlighted on the chart. This surge in activity accompanied a notable Change of Character (ChoCH) as buyers absorbed sell-side liquidity that previously capped rallies.
After the breakout, BONK retested lower zones, forming a fresh support block around the highlighted lower range—an area now acting as the market’s short-term defense.
“When you see volume expanding into a resistance break, it typically signals conviction rather than a simple wick-through,” said BitXJournal market analyst. “The pullback into newly created support is a healthy structural move, not a breakdown.”
Supply Zones Still Dominate Overhead
Despite the bullish reclaim, BONK faces multiple stacked supply zones—clearly marked on the chart—between the 0.00001300 and 0.00002900 price regions. These areas previously generated Break of Structure (BOS) events to the downside, confirming heavy seller interest.
BitXJournal technical strategist noted:
“Until BONK invalidates those upper supply zones, particularly the one tied to the prior strong high, upside continuation remains tactical rather than trending.”
The market also shows repeated equal lows (EQL) sweeps in the lower region, signaling liquidity grabs rather than deeper trend reversals. This reinforces the importance of the newly built support range, which BONK must maintain to prevent further displacement to the downside.
BONK’s current positioning suggests a short-term stabilization phase. If buyers defend the newly outlined support zone, the market may attempt another approach toward mid-range liquidity pockets. However, failure to hold this area could re-open the broader bearish structure highlighted across the chart.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.