Bonk price is holding at a critical support region, with price action attempting to establish a double-bottom reversal. Reclaiming the point of control could trigger a bullish rally of more than 100%.

After a prolonged corrective phase, Bonk (BONK) is testing a key support zone that aligns with major technical confluences. Price action is showing signs of forming a potential double-bottom reversal pattern, a structure that could restore bullish momentum.

Bonk could see a rebound as large holders accumulate 80 billion tokens, adding further weight to the bullish setup. The structure is reinforced by both volume-profile dynamics and oversold signals from the Bollinger Bands, giving bulls a chance to reclaim higher levels if momentum builds.

Bonk price key technical points

• Daily support aligning with the point of control.
• Confluence with Bollinger Bands’ lower band highlights oversold conditions.
• Double bottom activation requires a reclaim of the point of control on a closing basis.

Bonk’s current trading behavior highlights the importance of its ongoing battle at daily support. Price has respected this level over several sessions, suggesting that buyers are stepping in to defend it. This support lies just below the point of control (POC), a major volume node that now acts as immediate resistance. For the double-bottom reversal pattern to activate, a closing reclaim of the POC is essential.

The technical setup becomes even more compelling when factoring in the Bollinger Ba

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Author: Aziz Zamani