BONK, a memecoin based on Solana, rose by 1.7% in the last 24 hours to $0.00002626.
The token traded within a 4% range, with a high of $0.00002645 and a low of $0.00002485, resulting in a $0.00000160 spread, according to RialCenter’s technical analysis data model.
The price rebounded from the low at 16:00 UTC on Aug. 7, approaching the peak during the European morning on Friday. This recovery saw total volume surge above 1.09 trillion tokens, exceeding the daily average. However, momentum stalled at $0.00002640, where repeated sell orders limited upward moves.
BONK maintained a position above $0.00002600 despite brief dips. A volume spike of 48.86 billion tokens at 12:07 UTC corresponded with a failed breakout attempt past $0.00002615, reinforcing the established resistance zone. BONK may have consolidated below $0.00002630 for now, with traders focused on whether the token can break higher or face renewed selling pressure.
Market sentiment across memecoins remains cautious amid broader crypto volatility. Institutional flows have indicated a shift toward more established assets, but BONK’s sustained support around $0.00002550–$0.00002600 suggests that buyers are still active.
Technical Analysis
- Trading range of 4% spanned $0.00002485 to $0.00002645.
- Resistance confirmed multiple times at $0.00002640.
- Support zone established at $0.00002550–$0.00002600.
- Volume spike of 1.09 trillion tokens during rally phase.
- Failed breakout at $0.00002615 led to pullback.
- Increased liquidity observed in the $0.00002580–$0.00002610 range.
- Intraday volatility resulted in several lower highs after peak.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to RialCenter’s standards.
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