BONK (BONK) and STABLE (STABLE) have both posted significant double-digit gains, driven by technical breakouts and a surge in trading volume and derivatives activity, signaling a potential shift in market sentiment for these altcoins.
BONK jumped 11.5% in 24 hours to a price of $0.0000057189, with its trading volume exploding by 157%. This move disrupted a prolonged downtrend as the price broke decisively above the upper boundary of its descending channel on the daily chart. The breakout shifted the short-term technical bias from pure continuation to potential reversal territory. At press time, BONK's market capitalization stood at $632.66 million.
Key technical levels for BONK include immediate pivot resistance at $0.00000743, with potential upside targets at $0.00001221 and $0.00001361 if the breakout holds. The Relative Strength Index (RSI) rebounded to 45.44 from oversold territory in the low 30s, indicating early momentum repair. A move above 50 would confirm stronger bullish control.
Supporting the technical move, exchange netflows for BONK remained negative, with roughly $870,000 leaving centralized platforms in the latest session. This pattern of token withdrawals, persisting over recent weeks, suggests accumulation and a reduction in immediate sell-side liquidity.
However, the derivatives market presents a mixed picture. Open Interest (OI) for BONK climbed 13.4% to $7.63 million, signaling expanding participation. The OI-Weighted Funding Rate remained negative at -0.0143%, indicating that shorts are paying longs and revealing crowded short positioning. This setup creates volatility risk: continued upside could trigger a short squeeze, while a failure to sustain momentum could lead to sharp unwinds.
Simultaneously, STABLE (STABLE) rallied 12.72%, trading near $0.027 with a 24-hour volume surge of 148.68% to $57.46 million. The price action is forming a bullish cup-and-handle pattern on the daily chart, with a rounded base near $0.009 and a handle formed in the $0.016–$0.020 region. A decisive break above the $0.030 resistance level could project a move toward $0.045.
STABLE's momentum is strong, with its RSI reading 63.17, well above the neutral 50 line but not yet in overbought territory. Derivatives data reinforces the bullish structure, with Open Interest soaring 46.35% to $44.93 million alongside the price advance. Furthermore, Binance top trader positioning shows a bullish tilt, with long positions accounting for 55.41% versus 44.59% shorts, resulting in a Long/Short ratio of 1.24.
Both assets now face critical inflection points. For BONK, the key is defending the reclaimed support zone to allow momentum to extend. For STABLE, the breakout narrative depends on a confirmed move above $0.030. Failure at these levels could lead to consolidation or heightened volatility, especially given the elevated leverage in both markets.
