BONK Consolidates as Key Levels Drive Short-Term Trading Structure

BONK moved through a broad 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 unfolded 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 on around 18:00 UTC on Nov. 19, when trading volume spiked to 1.68 trillion tokens, about 91% above the 24-hour average. That surge aligned with a breakdown from $0.0000102, confirming support near $0.0000095.

Subsequent attempts to extend gains were capped near $0.0000104, where repeated rejections reinforced the upper boundary of the range. Hour-by-hour data shows a sharp reversal from $0.0000104 to $0.0000103 during a 129 billion-token volume burst, highlighting the continued sensitivity of price to micro-level resistance.

Without a clear catalyst driving sentiment, the token continues to oscillate within a 14.7% consolidation band, with momentum hinging on whether volume expands at the edges of this range.

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.