BONK Edges Higher Amid Heavy Volume, Tests Resistance Near $0.0000264
Solana-based memecoin BONK posted a 1.7% daily gain, climbing to $0.00002626 as traders tested upside levels during a volatile session marked by elevated trading volume.
The token moved within a tight 4% range, fluctuating between $0.00002485 and $0.00002645, according to CoinDesk Research data. The initial rebound began around 16:00 UTC on August 7, with bullish momentum carrying the price toward session highs during Friday’s European morning.
A sharp volume increase — peaking at over 1.09 trillion tokens — powered the rally, but the upward push encountered stiff resistance near $0.00002640, where persistent selling pressure halted further gains. An attempted breakout at $0.00002615 around 12:07 UTC, coinciding with a 48.86 billion token trade, was quickly rejected, reinforcing the strength of the overhead resistance zone.
Despite repeated pullbacks, BONK has managed to hold above $0.00002600, consolidating within a narrow band and forming a support zone in the $0.00002550–$0.00002600 range. Liquidity remains concentrated between $0.00002580 and $0.00002610, indicating active positioning by short-term traders.
While the broader memecoin market remains cautious amid overall crypto market turbulence, BONK’s ability to maintain higher support levels suggests sustained buying interest and sets the stage for a potential renewed breakout attempt.
Key Technical Levels:
- Price Range: $0.00002485 – $0.00002645
- Resistance: Firm at $0.00002640
- Support: $0.00002550 – $0.00002600
- Rally Volume: Surpassed 1.09 trillion tokens
- Failed Breakout: $0.00002615 (48.86B tokens traded)
- Liquidity Focus: $0.00002580 – $0.00002610
- Short-Term Trend: Consolidation with minor lower highs
