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 high of $0.00002645 and a low of $0.00002485, producing a $0.00000160 unfold, in line with CoinDesk Analysis’s technical evaluation information mannequin.
The worth rebounded from the low at 16:00 UTC on Aug. 7, shifting towards the height in the course of the European morning on Friday. This restoration section noticed whole quantity surge above 1.09 trillion tokens, better than the each 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 could have consolidated beneath $0.00002630 for now, leaving merchants targeted on whether or not the token can break greater or face renewed promoting stress.
Market sentiment across memecoins remains cautious amid broader crypto volatility. Institutional flows have proven indicators of rotation into extra established property, however BONK’s sustained assist at $0.00002550-$0.00002600 suggests consumers stay energetic.
Technical Evaluation
- Buying and selling vary of 4% spanned $0.00002485 to $0.00002645.
- Resistance confirmed a number of instances at $0.00002640.
- Assist zone established at $0.00002550–$0.00002600.
- Quantity spike of 1.09 trillion tokens throughout rally section.
- 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.
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