BONK, a Solana-based memecoin, superior 1.7% within the final 24 hours to $0.00002626.
The token traded inside a 4% vary, with a excessive of $0.00002645 and a low of $0.00002485, producing a $0.00000160 unfold, based on CoinDesk Analysis’s technical evaluation information mannequin.
The value rebounded from the low at 16:00 UTC on Aug. 7, shifting towards the height through the European morning on Friday. This restoration part noticed whole quantity surge above 1.09 trillion tokens, larger than the day by day common. Nonetheless, momentum stalled at $0.00002640, the place repeated promote orders capped upward strikes.
BONK subsequently held above $0.00002600 regardless of transient dips. A quantity spike of 48.86 billion tokens at 12:07 UTC coincided with a failed breakout try previous $0.00002615, reinforcing the established resistance zone. BONK might have consolidated under $0.00002630 for now, leaving merchants centered on whether or not the token can break greater or face renewed promoting stress.
Market sentiment throughout memecoins stays cautious amid broader crypto volatility. Institutional flows have proven indicators of rotation into extra established property, however BONK’s sustained help at $0.00002550-$0.00002600 suggests patrons stay lively.
Technical Evaluation
- Buying and selling vary of 4% spanned $0.00002485 to $0.00002645.
- Resistance confirmed a number of occasions at $0.00002640.
- Help zone established at $0.00002550–$0.00002600.
- Quantity spike of 1.09 trillion tokens throughout rally part.
- Failed breakout at $0.00002615 led to pullback.
- Elevated liquidity noticed within the $0.00002580–$0.00002610 band.
- Intraday volatility produced a number of decrease highs after peak.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
