While many meme tokens are losing steam, BONK stands out by resisting heavy selling pressure. Solana's token clings to a crucial support, catching investors' attention. Is it gearing up for a bullish breakout or just a temporary pause ? Technical analysis reveals early signals.
The memecoin BONK, based on the Solana network, has weathered a volatile period over the past 24 hours. Despite intense institutional activity, BONK has managed to maintain a crucial support level, paving the way for a potential rebound.
At its peak during the day, BONK reached $0.000026 before hitting significant resistance. Institutional volumes then exploded, reaching 4.02 trillion tokens traded at this price, demonstrating the marked interest from major market players.
However, this wave of selling wasn’t enough to break the support at $0.000023, which firmly held prices. Indeed, 1.07 trillion tokens were exchanged at this level, absorbing the selling pressure and allowing BONK to recover afterward.
After this successful test of support, BONK began a modest recovery, gaining about 1% to reach $0.00002425. This rebound was fueled by significant volume spikes at 10:48 UTC (21.99 billion tokens) and 10:49 UTC (31.43 billion). This suggests accumulation by institutional players.
Traders now face a clearly defined battle line : resistance remains anchored at $0.000026, while support sits at $0.000023. A sustained breakthrough above $0.000025 could signal the beginning of a more pronounced bullish movement. Conversely, a break below the lower support could risk pushing prices back toward the lows seen at the beginning of the month.
BONK’s continued liquidity, even in the face of recent volatility, underscores its position among the most active memecoins in the market. Institutional participation has kept price action within a tight range but has also increased the potential for sudden breakouts if order books thin at key levels.
BONK is well-positioned to be one of the memecoins that could potentially outperform the market in 2025. With solid support despite selling pressure, the token offers excellent return prospects.
Here’s how to take advantage by buying before its major explosion in the coming months :
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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