BONK Eyes Breakout as Price Holds Key Support on Strong Volume
Solana-based memecoin BONK gained 1.7% over the past 24 hours, rising to $0.00002626 as traders tested a key resistance area amid heightened market activity.
The token traded within a 4% intraday range, moving between $0.00002485 and $0.00002645, with most price action centered around the $0.00002600 level. The upward move began after a bounce from session lows on August 7 at 16:00 UTC, gaining momentum during the European trading window.
Trading volume surged past 1.09 trillion tokens, significantly exceeding daily averages and signaling increased investor interest. A key moment came at 12:07 UTC, when a 48.86 billion-token trade coincided with a failed breakout attempt above $0.00002615, reaffirming resistance near $0.00002640.
Despite the rejection, BONK maintained levels above $0.00002600, forming a tight consolidation band supported by active bids in the $0.00002550–$0.00002600 range. Market liquidity remains concentrated between $0.00002580 and $0.00002610, suggesting short-term positioning and potential for renewed upside pressure.
While broader memecoin sentiment remains cautious, BONK’s resilience at higher support suggests that bulls remain engaged, eyeing a possible breakout if overhead supply weakens.
Technical Snapshot:
- Price Range: $0.00002485–$0.00002645
- Resistance: $0.00002640
- Support: $0.00002550–$0.00002600
- Volume Surge: 1.09T tokens
- Key Rejection: $0.00002615
- Liquidity Zone: $0.00002580–$0.00002610
- Trend: Sideways consolidation with bullish bias
