BONK traded below sustained promoting strain on Wednesday falling 3.9% to $0.00002383 in 24 hours.
The Solana-based memecoin swung between a excessive of $0.00002486 and a low of $0.00002360, a spread that translated to 50.3% volatility, nicely above the altcoin common, in response to CoinDesk Analysis’s technical evaluation information mannequin.
A number of makes an attempt to reclaim larger floor have been rejected close to the $0.00002480 resistance zone, the place persistent promoting capped intraday rallies.
Quantity surged to 682.03 billion tokens through the 21:00 UTC hour on Aug. 5, coinciding with value stabilization close to $0.00002360, a stage that noticed repeated intervention by consumers.
The token noticed a pointy 0.53% rebound through the European afternoon on Wednesday, rising from $0.00002374 to $0.00002387. The acquire got here after the token dipped to $0.00002361. Quantity exceeded 35 billion tokens between 13:36 and 14:04 UTC, indicating a mix of institutional accumulation and doable brief overlaying as merchants repositioned.
Technical Evaluation
- Worth Vary: 50.3% volatility between $0.00002486 excessive and $0.00002360 low.
- Session Decline: 3.9% drop from $0.00002477 to $0.00002383.
- Help Zone: Established at $0.00002360 with a number of volume-backed rebounds.
- Resistance Degree: Firmly held at $0.00002480 with institutional distribution patterns.
- Quantity Highlights: 682.03B tokens traded at 21:00 UTC; 35B+ throughout 13:36–14:04 bullish reversal.
- Development Construction: Late-session reversal implies potential shift in short-term sentiment regardless of persistent macro headwinds.
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