BONK at a Tipping Point: Will Bulls Charge Through the Value Area High?

Memecoin traders are holding their breath as BONK teeters on a critical support level. The question on everyone's lips: Can the bulls muster enough strength to break through the value area high?

Technical analysis shows BONK hovering near a make-or-break zone. A decisive push above this level could trigger a fresh rally—while failure might send it tumbling back into the meme abyss.

Market sentiment remains split. Die-hard degens are doubling down, while seasoned traders eye the exits. After all, in crypto, even the most 'serious' projects sometimes moon on pure vibes.

One thing's certain: If BONK breaks north, the FOMO will be palpable. If not? Well, there's always another memecoin waiting in the wings—because nothing says 'financial revolution' like dog-themed gambling tokens.

Key technical points:

• Support at Value Area High: Critical short-term level BONK must hold to avoid deeper correction
• Point of Control Support: Confluence of 0.618 Fibonacci, lower daily support, and historical range mid
• Volume Tapering: Demand is weakening; strong buy volume needed if price retests point of control

From a structural perspective, the point of control (POC) is sitting below the current price; it represents a significant technical level. It aligns with the 0.618 Fibonacci retracement and a lower daily support, creating a high-confluence demand zone. Historically, this area has also served as a resistance level, meaning a successful flip and retest could confirm it as a strong support base.

So far, BONK has not yet established a clean support structure beneath the value area high, making this a fragile area for bulls to defend. If the current level is lost, a quick and volatile move to the POC is likely due to the lack of support on the way up. This gap in structure increases the risk of sharp downside until a base forms.

The volume profile adds another LAYER of context. While the rally into resistance was accompanied by significant volume, recent sessions have seen a tapering of demand, suggesting hesitation at current levels. If price revisits the POC, bulls will need to step in decisively with strong volume influxes to validate a reversal and form a bottoming structure.

A confirmed bounce from the point of control could trigger a rotation back toward the swing high, re-establishing bullish momentum. But if that support fails, BONK may re-enter its broader trading range, with downside targets NEAR the value area low which is the base of the current structure.

What to expect in the coming price action:

BONK must hold the value area high to avoid deeper correction. If lost, eyes turn to the point of control for a high-probability bounce zone. Volume will be the key confirming factor