Solana-based memecoin BONK has shown resilience in the past 24 hours, climbing 1.7% to reach $0.00002626. Trading within a narrow 4% range, BONK is currently battling a crucial resistance level at $0.00002640, which has repeatedly capped its upward rallies. Meanwhile, strong buy-side activity continues to defend support between $0.00002550 and $0.00002600, keeping the token stable amid broader market volatility.
Recent Price Action and Volume Surge
After hitting a low of $0.00002485 on August 7, BONK rebounded impressively, pushing towards an intraday high of $0.00002645 during Friday’s European trading session. This recovery was accompanied by a significant surge in trading volume, with over 1.09 trillion tokens exchanged — well above the average daily volume. The high volume indicates strong buyer interest supporting the token.
However, upward momentum stalled around the $0.00002640 resistance level, where persistent sell orders prevented a breakout. This price ceiling remains a key hurdle for BONK’s next leg up.
Technical Overview
Resistance: $0.00002640 has been confirmed as a key resistance zone after multiple rejections.
Support: The $0.00002550 to $0.00002600 range remains solid, with buyers actively stepping in on price dips.
Volume: The recent rally phase saw a trading volume surge above 1.09 trillion tokens. A failed breakout near $0.00002615 triggered a slight pullback.
Liquidity: Concentrated mostly between $0.00002580 and $0.00002610, liquidity is tightly clustered around current price levels.
Trend: The formation of a series of lower highs following recent peaks signals short-term consolidation and cautious sentiment.
Market Context and Outlook
The memecoin market is currently cautious amid overall crypto volatility, with some institutional capital flowing towards more established cryptocurrencies. Despite this, BONK’s ability to hold support near $0.00002600 signals continued active buying interest.
If bullish momentum returns, BONK may attempt to break through the $0.00002640 resistance level, which could trigger a short-term breakout and potentially attract further buying.
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Summary
BONK rose 1.7% to $0.00002626 in the last 24 hours.
Repeated resistance at $0.00002640 has capped upward moves.
Strong support exists between $0.00002550 and $0.00002600.
Volume surge and liquidity concentration indicate strong trading activity.
Short-term price consolidation is underway, with breakout potential if momentum resumes.