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By Jamie Crawley, CD Analytics|Edited by Sheldon Reback
Jul 10, 2025, 2:56 p.m.
- BONK climbed 4.65% in a sharp recovery, forming technical support.
- The 20-day exponential moving average is turning upward and RSI remains positive, signaling bullish strength.
- Key resistance levels lie at $0.00002389 and $0.000026, with breakout targets as high as $0.000041.
BONK, a Solana-based memecoin, completed a V-shaped recovery, gaining 4.65% to $0.00002202.
The move followed a dip to $0.000020 on July 9 at 15:00 UTC, where institutional accumulation emerged to stabilize price action.
STORY CONTINUES BELOW
The most significant upward momentum occurred between 02:00 and 05:00 on July 10, when BONK surged from $0.000021 to $0.000023, supported by a spike in trading volume.
Indicators remain bullish, according to CoinDesk Research’s technical analysis model.
The 20-day exponential moving average (EMA) has started to turn upward, while the relative strength index (RSI) remains in positive territory, suggesting that bulls retain the upper hand. Furthermore, BONK is nearing confirmation of a “golden cross,” where the 50-day EMA climbs above the 200-day EMA. That’s a pattern typically associated with long-term upward trends.
Looking ahead, break above the $0.00002389 resistance level could accelerate gains toward $0.000026, which, if surpassed, would complete a double bottom pattern and open the door for a potential rally to $0.000041. Intermediate resistance lies in the $0.00002577–$0.00002840 zone.
- V-shaped recovery: From $0.000020 to $0.00002202, up 4.65%.
- Current pullback: Trading near $0.00002128, down 5.95% in some markets.
- Support zone: $0.000020 identified as a reliable accumulation level.
- Resistance levels: $0.00002389 (immediate), $0.000026 (major), and $0.00002840 (upper consolidation range).
- Breakout target: A move above $0.000026 could project to $0.000041 on double bottom confirmation.
- Indicators: 20-day EMA turning upward; RSI positive; golden cross near-confirmation between 50-day and 200-day EMAs.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
