Meme Coins News: BONK Price Remains Above Key Support, Faces Resistance at $0.0000264
The BONK coin, one of the prominent meme coins based on the Solana network, has risen by 1.7% over the past 24 hours to record $0.00002626, trading within a narrow range of 4% as it approaches a key resistance level at $0.00002640.
During the European Friday session, a strong buying wave pushed the coin to its daily highs at $0.00002645, before the resistance barrier halted breakout attempts. The lowest level recorded was $0.00002485, amidst intense trading of 1.09 trillion tokens, significantly exceeding the daily average.
Technical Analysis:
Resistance: $0.00002640 has proven to be a tough barrier after several rejections.
Support: The $0.00002550–$0.00002600 zone held against pressure, with buyers entering strongly at dips.
Volume: Significant buying activity did not manage to break through $0.00002640, leading to a limited pullback.
Liquidity: Concentrated in the $0.00002580–$0.00002610 range.
Trend: A pattern of lower highs indicates a short-term consolidation phase.
Market Context:
Despite the caution prevailing in the meme coin sector amid cryptocurrency market volatility, BONK continues to maintain its key support, reflecting active interest from buyers. If positive momentum returns, breaking the $0.00002640 barrier could open the door for a new upward wave, according to CoinDesk analysis.
