BONK Eyes 100% Rally on Inverse Head & Shoulders Retest
BONK has broken out of an inverse head and shoulders pattern around $0.00002 and is now retesting the neckline as support. Analysts forecast a 100% upside move, targeting levels from $0.000024 up to $0.000052. The token trades above its 200-day moving average, indicating long-term strength, while the RSI remains neutral. After forming a bullish flag, BONK is testing its upper edge and could see another leg higher if it breaks out. However, open interest in BONK futures has dropped from $73 million to $29 million, reflecting caution among traders. Institutional attention rose when BONK was added to Grayscale’s tracking list. A decisive hold above the neckline and flag breakout would confirm bullish momentum.
Bullish
The inverse head & shoulders breakout and successful neckline retest signal a strong bullish setup. BONK trading above the 200-day moving average and forming a bullish flag suggests follow-through upside if the flag breaks. Similar patterns in altcoins have historically led to 50%–100% rallies within weeks. Although open interest has declined, this may reflect profit-taking rather than trend reversal. Institutional monitoring by Grayscale adds credibility and could support sustained demand. In the short term, a clear flag breakout could trigger rapid gains. Over the longer term, continued on-chain growth and institutional interest may underpin further upside and market stability.