- BONK has bounced from the Golden Pocket Fibonacci zone, confirming a higher low and reinforcing a bullish market structure.
- A breakout above the point of control resistance could trigger an accelerated move toward higher price targets.
- Coinbase listing BONK as collateral for perpetual futures trading adds visibility and strengthens its position in the market.
BONK has shown strong signs of recovery after bouncing from the Golden Pocket Fibonacci retracement zone, confirming a higher low. The bounce reinforces the ongoing bullish market structure and sets the stage for potential upward movement. The cryptocurrency’s price has gained support from the 0.618 Fibonacci retracement level, which further strengthens the bullish outlook.
The critical point of control now acts as immediate resistance. If BONK successfully reclaims this level, it could trigger a breakout with strong momentum. Historical price action suggests that reclaiming this resistance could pave the way for further acceleration, targeting higher resistance levels. Additionally, the recent listing of BONK as collateral for perpetual futures trading on Coinbase adds visibility, potentially boosting its momentum in the derivatives market.
Golden Pocket Fibonacci Zone Supports BONK’s Bullish Trend
BONK’s bounce from the Golden Pocket Fibonacci zone indicates a strong technical foundation for a bullish continuation. This zone has historically served as a critical area of support, and the recent price action aligns with this pattern. The confirmation of another higher low demonstrates that the market structure remains intact, continuing its bullish trend despite brief corrective moves.
Besides technical factors, the market is showing growing interest in BONK. Coinbase’s decision to list BONK as eligible collateral for perpetual futures enhances its appeal in the derivatives space. This could fuel additional demand and increase the coin’s market visibility.
Point of Control and Potential Breakout
Currently, BONK faces a key level of resistance at the point of control. A breakout above this resistance would validate the recent bounce and signal the next phase of upward movement. The success of this breakout depends on sustained buying volume and momentum. Without this volume support, there is a risk of the breakout fading and the price retracing.
Historical data support the idea that reclaiming the point of control often leads to significant upward momentum. With continued bullish pressure, BONK could see a swift rise toward daily resistance and previous swing highs.
