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suffered a sharp decline to start the week, down 11% to $0.00001232 as the Solana-based meme token fell for critical support.
The decline erased much of last week’s gains, confirming a near-term bearish shift, according to CoinDesk Research’s technical analysis data model.
After falling from $0.000014 to $0.000013, BONK tumbled more than 6% to around $0.0000121 in the space of 30 minutes during the European afternoon.
The 24-hour trading range spanned $0.00001252 to $0.00001434, reflecting 8.5% intraday volatility as memecoin reversed from early gains. Heavy selling pressure emerged around 03:00 GMT, when volume reached 964.3 billion tokens, a 46% jump above the daily average. This break below the $0.0000137 support solidified the bearish tone, with resistance reestablished near $0.0000144, the previous week’s rejection zone.
After consolidating between $0.0000129 and $0.0000131, BONK briefly bounced back 5.3% to $0.00001309 during the late session recovery attempt. The short-term rally near $0.0000131 suggested that traders were testing support, although momentum is quickly fading. The muted follow-up highlights the lingering caution as volumes decline below their previous peaks.
Technically, BONK remains under pressure as it is trapped below its $0.0000137 resistance band. The pattern of lower highs and narrow range consolidation indicates an ongoing distribution phase. Traders are watching if the token can hold above $0.0000129 – the current support level – to avoid a deeper slide. A decisive move above $0.0000137 would be needed to re-establish the bullish leg and reverse the current trend.
Disclaimer: Parts of this article were generated with the assistance of 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.
