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Bonk (CRYPTO: BONK) trades near $0.0000134 after defending critical support, with charts signaling a potential breakout setup forming.
While Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) remain range-bound after weeks of fading momentum, BONK's setup stands out as the one still flashing upside potential.
BONK Price Action (Source: TradingView)
BONK today hovers just above the $0.0000133–$0.0000138 support band after heavy selling pressure earlier in the session.
The decline followed a failed attempt to reclaim the $0.0000150 zone, with volume surging 71% as traders repositioned.
The chart shows a falling wedge pattern formed by a descending trendline since early October.
This structure often precedes sharp bullish reversals, especially when accompanied by oversold signals.
The 4-hour RSI slipped to 27.8, firmly in oversold territory.
This indicates sellers may be exhausted and momentum could shift toward a rebound.
Immediate support sits at $0.0000133, defended several times over the past two weeks.
Sustained trade above this level is essential to avoid testing the next floor at $0.0000128.
EMA readings show the 20-EMA at $0.0000144 and 50-EMA at $0.0000146, forming near-term resistance.
A breakout above this range would confirm trend reversal potential and target the 100-EMA near $0.0000152.
The wedge pattern signals compression that usually precedes directional expansion.
If BONK clears the descending trendline at $0.0000145, buyers could drive price toward $0.0000166 and $0.0000170.
A measured wedge projection suggests potential for an extended rally toward $0.000027, representing more than 100% upside from current levels.
Rising turnover supports this case, showing that accumulation may already be underway.
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