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BONK increased by 1.1% in the last 24 hours, reaching $0.00000988, while remaining within a tight range as the Solana-based meme token continued its consolidation phase.
The price action adhered to clearly defined technical limits, oscillating between solid support near $0.00000980 and multiple tests of resistance around $0.00001020, as indicated by CoinDesk Research’s technical analysis data model.
Trading activity saw a brief surge, with volume hitting 754 billion tokens — approximately 46% higher than its hourly moving average — as BONK approached the upper end of the range. Despite the uptick in trading activity, the token could not maintain momentum above resistance, slipping back to sideways movement as volume decreased toward the session’s close. Subsequent trading experienced a slight drop to $0.00000982 before a rapid V-shaped recovery brought BONK back to its session midpoint.
This consolidation pattern has defined BONK’s market structure lately, with traders predominantly orienting themselves around established intraday levels due to a lack of significant catalysts. The consistent support at $0.00000980 and persistent absorption during pullbacks suggest that buyers remain active within this range, although a definitive breakout signal has not yet appeared.
Unless volume returns significantly with a move above $0.00001020, BONK’s technical outlook indicates ongoing range-bound trading. Conversely, a drop below support would put the token at risk of a deeper retracement toward $0.00000950.
Disclaimer: Some portions of this article were crafted with the help of AI tools and examined by our editorial team to ensure precision and compliance with our standards. For further details, refer to CoinDesk’s complete AI Policy.
