Bonk price stalls at golden pocket, is a reversal possible?

Bonk price has corrected into the Golden Pocket Fibonacci retracement after losing the value area high. Price is now stabilizing at a confluence support zone that favors a potential reversal.

Summary

• BONK is consolidating at the Golden Pocket Fibonacci retracement, reinforced by daily support and the point of control.
• Market structure remains bullish with higher highs and higher lows intact.
• Bullish volume inflows are required to confirm a reversal and sustain a move back toward the value area high.

Bonk (BONK)’s aggressive sell-off from high time frame resistance has shifted price action into a natural corrective phase, partly driven by Safety Shot’s $25 million investment in BONK tokens. Price is currently testing the Golden Pocket Fibonacci level, reinforced by daily support and the point of control. Despite the retracement, the market structure remains bullish, with higher highs and higher lows still defining the broader trend.

Bonk Price Technical Points:

• Golden Pocket Support: Bonk is consolidating at the 0.618 Fibonacci retracement in confluence with daily support and the point of control.
• Healthy Correction: The pullback reflects a natural response after the recent impulsive rally.
• Resistance at Value Area High: A reclaim would confirm trend continuation and set up BONK for new highs.

BONKUSDT (1D) Chart, Source: TradingViewBonk’s correction was triggered after the value area high was lost on a closing basis, marking the end of its impulsive rally. This pullback is a typical market reaction, allowing the trend to reset and prepare for another potential leg higher. Price is now stabilizing within the Golden Pocket, a high-confluence zone that often serves as a reversal area due to its alignment with Fibonacci, volume nodes, and structural support.

From a structural perspective, Bonk remains bullish. The ongoing sequence of higher lows and higher highs has not been invalidated, and this current zone could become the foundation for another higher low. If buyers defend this level, it would reinforce the uptrend and create conditions for a new rotation higher. Losing this region, however, would weaken the bullish case and open the door to a deeper correction.

Volume will determine whether the Golden Pocket holds. Current inflows suggest demand is present, but a stronger and sustained increase in bullish participation will be needed to drive Bonk back toward resistance. Without volume confirmation, price risks prolonged consolidation at this level.

What to expect in the coming price action

If Bonk reclaims daily support at the Golden Pocket with strong bullish volume, the probability of a reversal toward the value area high increases significantly. A successful reclaim would likely lead to another higher high. Failure to defend this zone, however, could signal a deeper correction before continuation.