BONK-USD continued its decline on Tuesday, dropping 3.4% to $0.0000143 as the Solana-based meme token faced renewed downward pressure across the broader market.
This drop represented a significant break below the $0.0000146 support level, which had been stable for much of the previous week, thereby confirming a short-term bearish trend, according to CoinDesk Research’s technical analysis data model.
The 24-hour trading range fluctuated around $0.0000090, demonstrating 6.2% intraday volatility typical of BONK’s speculative nature. Trading volume surged to 1.26 trillion tokens around 20:00 GMT, reflecting a 122% increase over the 24-hour average, indicating active participation from institutional and algorithmic traders during the downturn.
After reaching a peak of approximately $0.0000152, BONK was unable to maintain its gains, showing a series of lower highs between 19:00 and 21:00 GMT before sliding toward the $0.0000143 area.
Despite the downturn, buying interest was noted late in the session, as volume spikes between 01:32 and 01:50 GMT provided some modest relief. The token slightly rebounded to $0.0000143291, establishing a higher low near $0.0000142930, suggesting early base-building at this support level.
The immediate focus for the token is now within the $0.0000143–$0.0000144 consolidation range, with upward momentum restricted by resistance levels at $0.0000144018 and $0.0000146.
Traders anticipate continued range-bound activity, providing tactical opportunities for accumulation around the current price levels.
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