Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Is Bonk (BONK) Poised for a Breakout? This Key Pattern Formation Suggests So!

Is Bonk (BONK) Poised for a Breakout? This Key Pattern Formation Suggests So!

CoinsProbeCoinsProbe2025/11/02 06:36
By:Nilesh Hembade

Date: Sun, Nov 02, 2025 | 05:30 AM GMT

The cryptocurrency market continues to build on its early November momentum, with both Bitcoin (BTC) and Ethereum (ETH) trading in green. Several memecoins are also joining the upside wave — including Bonk (BONK), which is showing early signs of strength.

BONK is trading higher today with modest gains, but what’s more important is the chart structure — which now displays a bullish technical pattern that could hint at a potential breakout in the near term.

Is Bonk (BONK) Poised for a Breakout? This Key Pattern Formation Suggests So! image 0 Source: Coinmarketcap

Descending Broadening Wedge Pattern in Play

On the 2-hour chart, BONK has been trading within a descending broadening wedge — a bullish pattern that often develops during a downtrend and signals a potential reversal once the price breaks upward.

During the latest pullback, BONK dropped to test its lower wedge support near $0.00001274, where buyers stepped in and defended the level. Since then, the token has rebounded sharply, climbing back toward $0.00001429, positioning itself just below the wedge’s upper resistance line.

Is Bonk (BONK) Poised for a Breakout? This Key Pattern Formation Suggests So! image 1 Bonk (BONK) 2H Chart/Coinsprobe (Source: Tradingview)

The price action is tightening around this resistance zone — a technical condition that typically precedes high-volatility breakout moves.

What’s Next for BONK?

If bulls manage to push BONK above the upper wedge trendline and reclaim the 50 MA, it could confirm a breakout, potentially driving the token toward $0.00001745 — a move that represents an approximate 22% upside from current levels.

However, if BONK fails to break above resistance, the token may consolidate within the wedge for a while longer. In that case, the $0.00001380 level will be a key short-term support to monitor.

At the moment, the technical outlook looks encouraging, and as overall market sentiment remains positive, BONK could soon emerge as one of the leading memecoins driving the next leg of the rally.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Prediction markets meet Tinder: Can you place bets on Warden's new product by simply swiping left or right?

No need for chart analysis, macro research, or even inputting the amount of funds.

ForesightNews 速递2025/11/06 05:13
Prediction markets meet Tinder: Can you place bets on Warden's new product by simply swiping left or right?

Why does bitcoin only rise when the U.S. government reopens?

The US government shutdown has entered its 36th day, leading to a decline in global financial markets. The shutdown has prevented funds from being released from the Treasury General Account (TGA), draining market liquidity and triggering a liquidity crisis. Interbank lending rates have soared, while default rates on commercial real estate and auto loans have risen, increasing systemic risk. The market is divided over future trends: pessimists believe the liquidity shock will persist, while optimists expect a liquidity release after the shutdown ends. Summary generated by Mars AI. The accuracy and completeness of this summary are still being improved as the Mars AI model is updated.

MarsBit2025/11/06 05:03
Why does bitcoin only rise when the U.S. government reopens?

Jensen Huang predicts: China will surpass the United States in the AI race

Nvidia CEO Jensen Huang stated bluntly that, thanks to advantages in electricity prices and regulation, China will win the AI race. He added that overly cautious and conservative regulation in Western countries such as the UK and the US will "hold them back."

Jin102025/11/06 04:59

OpenAI CFO: AI doesn’t need to cool down, the enthusiasm is far from enough!

As Wall Street grows increasingly concerned about an AI bubble burst, OpenAI's CFO is instead calling for "more enthusiasm." She also stated that going public is currently not in the company's plans.

Jin102025/11/06 04:59