BONK Faces Resistance at $0.000026 After Significant Trading Activity
Solana-based meme coin BONK experienced significant volatility in the last 24 hours, characterized by notable institutional trading. Key points include:
- BONK peaked at $0.000026, facing resistance with 4.02 trillion tokens traded.
- The price fell 6% to a support level near $0.000023, where 1.07 trillion tokens were exchanged.
- A modest rebound occurred, increasing from $0.000024 to $0.00002425, driven by volume spikes of 21.99 billion and 31.43 billion tokens.
- Resistance remains at $0.000026, while support is anchored at $0.000023.
- A sustained move above $0.000025 could indicate further upward momentum; failure to hold support may lead to retesting early-August lows.
- Price closed at $0.00002448, down 0.92% during the period.
- Consolidation observed between $0.000024 and $0.000025.
BONK's high liquidity amidst volatility highlights its activity within the meme coin sector, with institutional participation influencing price dynamics and potential for sudden breakouts.