BONK at Crossroads: Technical Warnings Clash with Bullish Momentum on Bybit

BONK, the Solana-based meme coin, is currently navigating a critical phase as mixed signals emerge from technical indicators and market sentiment. Despite a impressive 50% monthly price surge and recent integrations with Bravo Ready games—which have generated $1.72 million in daily revenue—the token is showing signs of rejection at key resistance levels. Weekly charts indicate a struggle to reclaim its 2024 range, with three consecutive candles reflecting this tension. This article delves into the conflicting dynamics shaping BONK’s trajectory and what it means for traders on Bybit.

BONK Faces Critical Juncture Amid Technical Warnings and Bullish Sentiment

BONK, the Solana-based meme coin, finds itself at a pivotal moment as conflicting signals emerge from technical analysis and community sentiment. Despite a 50% monthly price surge and recent integrations with Bravo Ready games—generating $1.72 million in daily revenue—the token shows signs of rejection at key resistance levels. Weekly charts reveal a struggle to reclaim its 2024 range, with three consecutive candles rebuffed NEAR the MA50.

Bullish voices like Champ argue BONK’s fundamentals remain strong, citing its "cracked marketing team" and normie appeal. Yet the technical picture warns of potential downside, with the token failing to hold above former support-turned-resistance. Market structure now hinges on whether BONK can flip the orange line into a springboard for new highs—or confirm a bearish breakdown.

Bybit Secures MiCA License in Austria, Strengthening European Crypto Footprint

Bybit, the Dubai-based cryptocurrency exchange, has obtained regulatory approval from Austria’s Financial Market Authority (FMA) under the Markets in Crypto-Assets (MiCA) framework. The license enables Bybit to operate across the European Union’s 27-member trading bloc, marking a strategic expansion for the world’s second-largest exchange by volume.

The MiCA regime, implemented this year, has prompted crypto firms to establish jurisdictional hubs within the EU. Austria emerges as a favored destination, already hosting Bitpanda’s MiCA-compliant operations. Bybit’s relocation from Singapore to Dubai in 2022 preceded this regulatory milestone, though the exchange faces scrutiny following a $1.5 billion hack in February 2025—the largest recorded crypto theft.