Bonk, a token even based in Solana, slipped 14% in the last 24 hours, going from $ 0.000035 to $ 0.000030,96.
The token experienced high volatility, with a commercial volume exceeding 2.39 Bonk Billions, suggesting aggressive repositioning among institutional participants.
The market resistance was established early around the level of $ 0.000036, where the pressure of the sale jumped, coinciding with data of command notebook showing institutional liquidations totaling more than 2.6 bowls of tokens, according to the Technical Analysis Data model of Coindesk Research.
Temporary stabilization occurred during the night, with a support forming almost $ 0.000031 while the volume of the sale cooled to 1.48 billion of tokens, but the ascending momentum remained limited.
The steepest losses took place between 1:06 p.m. and 14:05 UTC on July 29, while Bonk dropped by 3%.
The quantitative models of high -frequency negotiation companies suggest that more decline could be likely, the dynamics reporting a break below the key support threshold of $ 0.000031. Unless institutional demand emerges, Bonk can derive towards the psychologically significant level of 0.00000030 in the short term.
Strengths of technical analysis
- The price dropped by 13.6% over 24 hours.
- Trading varied from $ 0.0000,3565 (high) to $ 0.00003062 (low), a swing of 14.1%.
- The institutional sale increased by 2.6 billions of tokens near the resistance to $ 0.000036.
- The temporary support was formed around $ 0.000031 with 1.48 billion of absorbed tokens.
- The decline of the last hour saw Bonk falling from $ 0.000032 to $ 0.000031, with 60b + chips exchanged.
- Algorithmic trading volumes jumped between 13: 53–14: 03, a potential sign of stop triggers.
- Quantum models are planning possible for an additional decrease of $ 0.0000,00030 if the resistance is valid.
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