The BONK coin, one of the most famous meme coins on the Solana network, continues to trade within a relatively stable range, having risen by 1.7% over the last 24 hours to record $0.00002626. Despite moving within a limited range of no more than 4%, it is once again approaching a strong resistance level at $0.00002640.
BONK recorded a peak today at $0.00002645 and a low at $0.00002485, following a notable rebound from its lowest levels on August 7. This rebound was accompanied by a significant increase in trading volume, exceeding 1.09 trillion tokens, reflecting exceptional activity compared to the daily average. However, attempts to break the resistance failed, as the price faced strong selling pressure at the mentioned level.
Key technical indicators:
Strong resistance: $0.00002640 has proven its strength after several failed attempts to break through.
Support area: between $0.00002550 and $0.00002600, where buyer interest is highlighted at dips.
Liquidity: more concentrated between $0.00002580 and $0.00002610.
Trend: Horizontal movement pattern with lower highs, suggesting a short-term accumulation phase.
Overall market outlook:
In light of the prevailing anticipation in the meme coin market amid overall market fluctuations, BONK shows clear resilience by maintaining its strong support. If buying momentum returns, we may witness a serious attempt to break the $0.00002640 level, which could open the door for wider movements.
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