Bonk started the week with a fleeting note, with the Solana-based Memecoin climbing up to an August height of $ 0.00002841 before slipping 8%.
Advance marked one of its strongest levels in recent weeks and was met with rapid institutional trade that deleted much of the early gains, according to Coindesk Research’s technical analysis data model.
Sales of pressure accelerated between 11:00 and 13:00 UTC as trading in quantities increased to between 1.12 trillion and 2.16 trillion tokens. This could have been down to coordinated profits where large holders rotated out of positions. Sales drove Bonk down 8% to a low level of $ 0.00002554, one step that tested the most important technical support near $ 0.00002620.
The token saw a short recovery around 13:00 UTC after news, which a listed company seemed to plan to build a Bonk state box. Nasdaq-Listed Health Beverage Company Safety Shot (SHOT) agreed to buy $ 25 million worth of Memecoin in exchange for offering $ 35 million of shooting shares to Bonk’s basic contributors.
While Overhead resistance to $ 0.00002854 remains the primary technical barrier, Bonk’s ability to keep support and recover after strong sales that can provide the basis for renewed upside momentum if the positive market mood continues.
Technical analysis
- Price range: $ 0.00002554 for $ 0.00002841 over 24 hours (12% volatility).
- Resistance: $ 0.00002854 Level confirmed as a sales zone.
- Support: Critical $ 0.00002620 Level held during sale.
- Volume Spikes: 1.12-2,16 trillion tokens, which is traded during liquidation.
- Recovery channel: Higher low at $ 0.00002565, $ 0.00002572, $ 0.00002570.
- Breakout Trigger: $ 0.00002632 Level Cleared at 49.5B Token Wave.
- Trendsignal: 8% Fall followed by 2% rebound suggests potential basic building.
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