BONK Edges Higher as Narrow-Range Trading Holds Above Key Support

BONK advanced 1.1% over the past 24 hours to $0.00000988, trading within a narrow band as the Solana-based meme token continued its consolidation phase.

Price action respected well-defined technical boundaries, with the session fluctuating between firm support near $0.00000980 and repeated resistance tests around $0.00001020, according to CoinDesk Research's technical analysis data model.

Activity briefly accelerated, with volume reaching 754 billion tokens — about 46% above its hourly moving average — as BONK challenged the upper end of the range. Despite the increased participation, the token failed to sustain momentum above resistance, reverting to sideways movement as volume tapered into the close. Later trading saw a brief dip toward $0.00000982 before a quick V-shaped recovery lifted BONK back toward its session midpoint.

The consolidation dynamic has characterized BONK’s market structure in recent days, with traders largely positioning around well-established intraday levels in the absence of major catalysts. Repeated support holds at $0.00000980 and consistent absorption during pullbacks suggest buyers remain active within the range, though a clear breakout signal has yet to emerge.

Unless volume returns meaningfully on a push above $0.00001020, BONK’s technical profile points to continued range-bound trading. A breakdown below support, meanwhile, would expose the token to deeper retracement toward $0.00000950.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.