BONK shows technical signs of a major upward move. Let’s explore how the falling wedge and RSI could drive this surge.
The BONK/ USDT chart on the four hour timeframe shows that the token has created a falling wedge pattern. A falling wedge pattern is a bullish chart formation where price moves within two converging downward sloping lines and usually signals an upcoming breakout to the upside.
BONK is currently trading at 0.00003159 USDT and sits near the lower boundary of the wedge. The upper resistance line has gradually narrowed, indicating reduced selling pressure. The volume has also decreased, which often happens before a breakout. The 50 day exponential moving average at 0.00003374 USDT is slightly above the current price, and a move above this level could support bullish momentum.
If BONK confirms the falling wedge breakout, its price could rise by approximately 75 percent from the current level to reach around 0.00005526 USDT. This level aligns with the previous resistance shown on the chart. For confirmation, BONK must break decisively above the upper trendline of the wedge with increased volume, which would signal renewed buying strength and validate the pattern.
The recent decline toward the wedge’s lower support indicates that price is retesting its base, which often precedes upward reversals in such patterns. The tightening price range and decreasing volume reflect consolidation, a typical precursor to a breakout. A confirmed breakout would likely push BONK toward the projected target, driven by technical buying and pattern completion.
