BONK Remains Range-Bound as High Trading Volume Confirms Key Technical Levels
BONK spent the past 24 hours moving within a broad consolidation channel, with surging volume helping validate both a rejection at resistance and a recovery from support. The Solana-based memecoin traded slightly below $0.0001, slipping 0.7%, as price behavior continued to revolve around well-defined technical markers, according to CoinDesk Research’s data model.
The most pronounced action occurred around 18:00 UTC on Nov. 19, when trading activity spiked to 1.68 trillion tokens—roughly 91% above the daily average. The surge coincided with a drop from $0.0000102, reaffirming support near the $0.0000095 area.
Efforts to extend gains were repeatedly capped near $0.0000104, with multiple rejections confirming the upper boundary of the range. Hourly data indicated a sharp reversal from $0.0000104 to $0.0000103 amid a 129 billion-token burst in volume, underscoring the token’s continued sensitivity to micro-level resistance.
With sentiment lacking a decisive catalyst, BONK remains locked within a 14.7% consolidation band. The next directional move will depend on whether volume accelerates as price approaches the edges of this range.
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