BONK Price Steadies Above Support With 71% Volume Spike Amid Market Weakness
CoinDesk
BONK fell 3.8% to $0.00001402 despite a 71% surge in trading volume as it defends key support levels.Summary
The Solana-based meme coin BONK has retreated by 3.8% in the last 24 hours, settling at $0.00001402 after failing to sustain a rebound past $0.00001518. This decline occurred amidst a significant 71% surge in trading volume compared to the seven-day average, indicating defensive positioning by traders trimming exposure after repeated failures to break the $0.0000146–$0.0000150 resistance band. Technically, BONK is now forming a descending short-term channel, with crucial support near the $0.0000138–$0.0000140 zone. Momentum indicators suggest consolidation, requiring a close above $0.0000143 for renewed upside or a drop below $0.0000139 to test the next downside target near $0.0000137.
(Source：CoinDesk)