BONK has gone through a wide consolidation range over the past 24 hours, fluctuating between key technical levels to trade just below $0.0001.
The Solana-based memecoin fell 0.7%, but intraday price action took place within a volatile structure shaped almost entirely by support and resistance interactions, according to CoinDesk Research’s technical analysis data model.
The most dramatic activity occurred around 6:00 p.m. UTC on November 19, when trading volume reached 1.68 trillion tokens, approximately 91% above the 24-hour average. This rise corresponds to a breakout of $0.0000102, confirming support near $0.0000095.
Subsequent attempts to extend gains were capped near $0.0000104, where repeated rejections strengthened the upper limit of the range. Hourly data shows a sharp reversal from $0.0000104 to $0.0000103 during a volume explosion of 129 billion tokens, highlighting the price’s continued sensitivity to micro-level resistance.
Without a clear catalyst fueling sentiment, the token continues to oscillate within a 14.7% consolidation band, with momentum dependent on whether volume increases at the limits of this range.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
