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The Bonk price has soared 14% in the last 24 hours to trade at $0.00001589 as of 6:45 a.m. EST on a 15% pump in trading volume to $277 million.
Bonk Price Action Signals Bullish Reversal After Major Correction
The BONK/USDT 1-day chart clearly transitions from a prolonged downtrend into a potential bullish reversal. Initially, the price was consolidated between August and October 2024, ranging within the support zone of approximately $0.00000019 to $0.00000032.
This range acted as a foundational base, eventually leading to a strong breakout rally in November. BONK surged exponentially and peaked near $0.00000640 in December 2024, driven by heavy bullish momentum.
However, after the euphoric rally, the market corrected sharply. BONK entered a steep bearish channel from mid-December 2024 to early March 2025, forming a clear series of lower highs and lower lows. This pullback was strong, as the price dropped over 90%, retracing to around $0.00000052.
BONKUSDT Analysis Source: Tradingview
BONK Confirms Double Bottom Breakout, Eyes Further Upside
Following this downtrend, BONK established a major support level around $0.00000100 and formed a double bottom structure, a strong reversal pattern. The neckline of this formation was at the $0.00000164 to $0.00000170 range.
BONK has now broken above this neckline with a bullish candle, suggesting that the double bottom has been confirmed and a trend reversal is in motion. The price is currently slightly above the neckline, which now acts as a new support.
The RSI (Relative Strength Index) stands at 67.11, which is nearing the overbought zone but still leaves room for further upside. The RSI also shows a bullish crossover, with the blue RSI line crossing above the orange signal line, which confirms strengthening momentum. The bullish structure remains intact as long as BONK holds above the neckline area.
Key monitoring levels include immediate support at $0.00000150 and potential resistance near $0.00000220 to $0.00000240. A successful retest of the neckline could offer a strong buy opportunity, while continued bullish momentum might push the price toward the next supply zone around $0.00000350 to $0.00000400.
Investors Turn To Solaxy (SOLX) As Its Presale Heads For $32M
While the Bonk price struggles to break through a tough resistance zone, many investors are now focusing on Solaxy (SOLX), a promising new project built on the Solana network.
Solaxy has already raised $31.5 million in its presale, and is positioning itself as Solana’s first-ever layer-2 (L2) scaling solution.
Although Solana was designed to be a faster and cheaper alternative to Ethereum, its growing popularity has led to network congestion. Some users have even reported delays and failed transactions, raising fears of another potential network outage.
🔥 The Solaxy Era Begins 🔥
The Solaxy TestNet Block Explorer is now live! This is the first step in bringing about $SOLX domination. 🛸🪐
Check it out for yourself below 👇https://t.co/VWq2cscsrK pic.twitter.com/8rIQfOHAwb
— SOLAXY (@SOLAXYTOKEN) April 19, 2025
Solaxy wants to solve these issues by using rollups, a scaling technology that handles transactions off the main network and only returns to it for final validation. This method helps reduce network pressure while improving speed and overall efficiency.
The team behind Solaxy aims to reach 10,000 transactions per second (TPS). They’ve already launched a test network and a block explorer. If they can keep up this speed, Solaxy could quickly become one of the leading blockchain projects.
Adding to the hype, popular crypto YouTube channel 99Bitcoins, with over 725k subscribers, predicts that SOLX’s price could soar 100x after it launches.
Solaxy also plans to launch a cross-chain bridge starting with Ethereum. This will link Ethereum’s large liquidity with Solana’s speeds, unlocking more use cases for the SOLX token. SOLX will also be used for payments, rewards, and governance.
Buy And Stake Solaxy Now For A 128% APY
Solaxy is giving early investors a major earning opportunity through its staking program, which offers a high 128% annual yield (APY).
The project has also partnered with Best Wallet, allowing users to buy and manage SOLX tokens directly through the app.
As demand on the Solana network continues to grow, Solaxy’s role as the first layer-2 scaling solution on Solana gives it a key advantage in the market.
Investors can join the presale by purchasing SOLX on the project’s official website. The tokens are currently priced at $0.001704 and can be bought using crypto or bank cards.
However, time is running out, the price of SOLX will increase in less than 6 hours, so those looking to get in early at the best rate should act quickly.
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