BONK Advances Slightly as Trading Holds Within Narrow Range
Solana-based meme token BONK posted modest gains as price action remained confined within a tight band, shaped by repeated resistance tests and shifting trading volumes.
Over the past 24 hours, BONK rose 1.1% to $0.00000988, continuing its consolidation phase between clearly defined technical levels. CoinDesk Research’s analysis shows the token fluctuated between firm support near $0.00000980 and resistance around $0.00001020.
Activity briefly picked up, with volume climbing to 754 billion tokens — about 46% above its hourly moving average — as BONK challenged the upper end of its range. However, momentum above resistance could not be sustained, and the token reverted to sideways movement as volume eased. A minor dip to $0.00000982 was quickly followed by a V-shaped recovery toward the session midpoint.
BONK’s recent market structure reflects ongoing consolidation, with traders largely operating around established intraday levels. Support at $0.00000980 remains firm, suggesting buyers are active, but a clear breakout has yet to occur.
Unless volume picks up for a move above $0.00001020, range-bound trading is expected to continue. A breakdown below support could see BONK retracing toward $0.00000950.
