BONK, a meme coin on the Solana blockchain, has surged nearly 60% in the past week driven by market sentiment and speculation surrounding ETF-related demand.
Key technical indicators point to continued accumulation, including negative net flows on exchanges and a potential Golden Crossover between 50 and 200-day EMAs.
BONK broke out of a year-long falling wedge pattern but is currently trading at $0.00002128, down 5.95% in the last 24 hours.
Traders are cautious as BONK approaches key resistance levels at $0.00002840, with potential support zones at $0.00002577 and $0.00003670. Speculation around BONK's inclusion in crypto ETF portfolios has contributed to its recent price surge.