BONK Loses Momentum After Sharp Rejection: Traders Brace for the Next Move
Once more, BONK is under pressure as the token declines due to a severe rejection at a crucial resistance zone. When the memecoin posted early strength, it lost steam and is currently trading back close to short-term support levels. Notwithstanding the drop, trade activity indicates that buyers are still active and that the market is establishing the preliminary framework for its subsequent course.
BONK Loses Steam After Failed Breakout Attempt
BONK fell when its intraday surge was stopped by a ceiling. A 4%+ drop from recent highs was caused by price action failing to stay above the resistance zone. Indicating strong selling pressure at the top of the range, the move occurred as trading volume spiked. BONK dropped back around the $0.000009526 region after peaking at around $0.00001018. The top boundary’s strength was verified by the rejection. The level became a significant barrier for bulls as volume rose into the move. Volatility decreased, and BONK settled into a narrow consolidation area as soon as the downturn started.
BONK Tests Support Zone: Breakout or Breakdown Ahead?
Hourly data reveals multiple brief pushes in the direction of the $0.00000915 zone. Moderate volume surges accompanied both moves. This suggests that buyers are still exploring the lower level rather than giving it up. The ability of BONK to maintain this support will determine the short-term course. A short-term recovery and the start of unwinding the most recent drawdown would be indicated by a break above $0.00000915–$0.00000920. The likelihood of a move toward $0.00000890 grows if the existing floor is not maintained. As the price compresses and traders prepare for the next breakthrough or breakdown, the following session can provide more distinct signals.
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