BONK rose 1.1% over the past 24 hours to $0.00000988, trading within a narrow band as the Solana-based meme token continued its consolidation phase.
Price action respected well-defined technical boundaries, with the session oscillating between firm support near $0.00000980 and repeated resistance tests around $0.00001020, according to CoinDesk Research’s technical analysis data model.
Activity briefly accelerated, and volume reached 754 billion tokens – about 46% above its moving hourly average – as BONK challenged the upper end of the range. Despite the increased participation, the token failed to sustain momentum above resistance, reverting to sideways movement as volume waned at the close. Later trading saw a brief dip towards $0.00000982 before a quick V-shaped rebound lifted BONK back towards the midpoint of the session.
Consolidation dynamics have characterized BONK’s market structure in recent days, with traders largely positioning themselves around well-established intraday levels in the absence of major catalysts. Repeated support holds at $0.00000980 and consistent absorption during pullbacks suggests buyers remain active within the range, although a clear breakout signal has yet to emerge.
Unless volume returns meaningfully on a push above $0.00001020, BONK’s technical profile points to continued range-bound trading. A break below support, meanwhile, would expose the token to deeper retracement towards $0.00000950.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
