Bonk started the week on a volatile note, with the same Solana based at a climbing at a August 0.00002841 summit before sliding 8%.
The advance has marked one of its strongest levels in recent weeks and has encountered a rapid institutional exchange which has erased a large part of the first gains, according to the Technical Analysis Data model of Coindesk Research.
The sale pressure accelerated between 11:00 a.m. and 1:00 p.m. UTC, when trading volumes jumped between 1.12 Billion and 2.16 billions of tokens. This could have been due to the taking of coordinated benefits, with large carriers turning out of the positions. The sale lowered Bonk by 8% to a minimum of 0.00002554, a decision that tested key technical support almost $ 0.00002620.
The token experienced a brief resumption around 1:00 p.m. UTC following news on a listed company seemed to have planned to build a Bonk treasure. Safety of the nasdaq health company (SHOT) agreed to buy a value of $ 25 million in the same in exchange for offering $ 35 million in shooting actions to Bonk founding contributors.
While resistance to general costs at $ 0.00002,854 remains the main technical barrier, Bonk’s ability to maintain support and recover from the heavy sale can provide the basics of an upward renewed momentum if the positive feeling of the market continues.
Technical analysis
- Price range: 0.00002554 to $ 0.00002841 over 24 hours (12% volatility).
- Resistance: 0.0000002854 Level confirmed as a sales area.
- Support: Critical level of $ 0.00002620 held during the sale.
- Pikes of volume: 1.12 to 2.16 Billions of tokens exchanged during the liquidation.
- Recovery channel: lower at $ 0.00002565, $ 0.00002572, 0.00002570 $.
- Escape trigger: 0.00002632 Level cleared on a 49.5 billion token overvoltage.
- Trendy signal: an 8% drop followed by a rebound of 2% suggests a potential basic building.
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