Exploring BONK’s mixed signals: Should you go long, short, or stay sidelined?

• The $0.0000165 level on the lower timeframe chart must be defended in case of a pullback.
• The demand in recent days was considerable, but zooming out showed that the demand has been relatively low since March.

Bonk [BONK] has rallied past June’s high on the back of considerable demand. This demand was reflected in the trading volumes of both the spot and derivatives markets.

At the time of writing, BONK presented differing outlooks on different time frame price charts.

Source: BONK/USDT on TradingView

The weekly chart showed a bearish swing structure. The swing points were at $0.00000258 and $0.0000114. A move beyond the former resistance level will signal a bullish outlook for BONK in the higher timeframes.

As things stand, a bullish argument was not feasible on the weekly timeframe.

The price action showed the first sign of a trend shift with a higher low in June, compared to March, but it was not a definitive sign. The OBV has been moving sideways since March.

The volume indicator revealed the lack of consistent demand behind BONK, which could hurt the chances of a sustained rally.

The weekly RSI was also below neutral 50, and has been throughout 2025, barring a couple of weeks in May. This was another sign of bearish dominance.

The RSI was at 49.86 at the time of writing, and a move above neutral 50 could be the first sign of a momentum shift.

The 1-day BONK chart offers more hope

Source: BONK/USDT on TradingView

While the weekly swing structure was bearish, the 1-day swing structure turned bullish after the gains made on Saturday, the 5th of July.

The OBV made a new high compared to June’s high, while the RSI also shot above neutral 50. Together, the volume and momentum indicators signaled bullishness for the meme coin.

BONK also exhibited a bullish market structure break on the daily chart, made on the 28th of June.

Combined with the higher lows the token made over the past ten days, it was a sign that BONK bulls were gaining strength.

The local high has been reached, and traders can look to exit their long positions at a profit. A bearish market structure shift on the 4-hour chart could give traders the next swing trade opportunity.

The more likely outcome, due to the increased trading volume during the rally, was a continued move higher. Traders can wait for the $0.0000183 level to be flipped to support before going long.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion