Bonk, the Solana-based meme-token, endured increased volatility in the last 24 hours and dropped 2.9% to $ 0.00002192. The action was defined by a ceiling to $ 0.00002308 that sellers repeatedly defended, while downward pressure built steadily, according to Coindesk Research’s technical analysis data model.
Consolidation around $ 0.00002262 gave way to a step forward against $ 0.00002306 in the early US afternoon on Monday and established the most important resistance point of the day.
The sharpest Bearish Momentum unfolded in the early hours on Tuesday as Bonk slipped from $ 0.00002285 to $ 0.00002217 between 01:00 and 05:00 UTC. Quantities increased over 600 billion tokens on the UTC interval at 03:00 and hinted at institutional sales and possible retail capital.
Bonk fell another 2% to $ 0.00002117 during the US morning Tuesday with intraday falls accompanied by spikes in volume over 30 billion tokens. Short rebounds, including a recovery attempt of $ 0.00002244 at. 13:54 UTC, could not maintain momentum, leaving bonk locked in a falling channel pattern.
Despite short -term weakness, prolonged data indicates selective accumulation. Sophisticated investors expanded the inventory by over 300% in the last month, even when whale wallets trimmed positions with approx. 110 billion tokens. This divergence points to strategic positioning in the midst of wider volatility, although technical indicators still suggest a risk of a gene test against $ 0.00002100 psychological support level.
Technical analysis
- Bonk closed to $ 0.00002308, which served as key resistance.
- Sharp fall from $ 0.00002285 to $ 0.00002217 between 01: 00-05: 00 UTC on August 19th.
- Trade volume exceeded 600 billion tokens under the pointed sales activity at. 03:00 UTC.
- Repeated errors in recovering $ 0.00002250 confirmed sustained sales pressure.
- Fall of 2% from $ 0.00002251 to $ 0.00002117 continued to highlight weakness.
- Short recovery to $ 0.00002244 at. 13:54 UTC turned quickly and reinforces falling duct trend.
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