BONK Jumps 10% Before Sellers Step In — Key Support Still Holding
- BONK surged 10% to $0.000027 before profit-taking trimmed gains, but support at $0.000024 is still holding strong.
- Trading volumes topped the 24-hour average, signaling institutional activity amid heightened volatility.
- Resistance at $0.000027 remains the breakout target, with traders watching for either a clean move higher or short-term consolidation.
BONK delivered one of its biggest single-day moves in weeks, ripping 10% higher from $0.000025 to $0.000027 in the 24 hours between Aug. 12 at 13:00 UTC and Aug. 13 at 12:00 UTC. The rally, which came on the back of heavy participation from both retail and bigger players, unfolded in a tight but aggressive trading range, with volatility hitting 13% over the period.
The move started after BONK nailed down a firm floor at $0.000024, sparking renewed buying momentum. By the early hours of Aug. 13, momentum peaked, pushing prices to the session high of $0.000027 between 03:00 and 04:00 UTC. Trading volumes easily topped the 24-hour average of 956.8 billion tokens, a sign that this wasn’t just low-volume noise.
Profit-Taking Knocks Price Off Highs
Still, holding those highs proved tricky. By the U.S. morning, BONK had eased back about 1%, slipping to $0.00002646. The sharpest reversal came at 12:52 UTC, when a 38-billion-token spike in volume marked what looked like profit-taking from larger holders. Despite that, support at $0.000024 — the same level that launched the rally — remains intact, keeping the bullish structure alive for now.
Adding to the intrigue, this rally arrived just days after Nasdaq-listed Safety Shot revealed a $25 million allocation to BONK’s ecosystem through the Bonk.fun launchpad. While the timing suggests the news may have already been priced in, it underscores that BONK’s narrative now has an institutional angle, not just meme-coin hype.
Key Levels to Watch
For now, traders are eyeing the same levels that defined the last move. Support is locked in at $0.000024, with resistance sitting firmly at $0.000027. A break higher could open the door to fresh momentum, while failure to hold the base might see a retest of deeper support zones. With volatility staying elevated, the next sessions could bring either a clean breakout or a grinding consolidation before the next big push.
The post BONK Jumps 10% Before Sellers Step In — Key Support Still Holding first appeared on BlockNews.
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BONK Jumps 10% Before Sellers Step In — Key Support Still Holding
- BONK surged 10% to $0.000027 before profit-taking trimmed gains, but support at $0.000024 is still holding strong.
- Trading volumes topped the 24-hour average, signaling institutional activity amid heightened volatility.
- Resistance at $0.000027 remains the breakout target, with traders watching for either a clean move higher or short-term consolidation.
BONK delivered one of its biggest single-day moves in weeks, ripping 10% higher from $0.000025 to $0.000027 in the 24 hours between Aug. 12 at 13:00 UTC and Aug. 13 at 12:00 UTC. The rally, which came on the back of heavy participation from both retail and bigger players, unfolded in a tight but aggressive trading range, with volatility hitting 13% over the period.
The move started after BONK nailed down a firm floor at $0.000024, sparking renewed buying momentum. By the early hours of Aug. 13, momentum peaked, pushing prices to the session high of $0.000027 between 03:00 and 04:00 UTC. Trading volumes easily topped the 24-hour average of 956.8 billion tokens, a sign that this wasn’t just low-volume noise.
Profit-Taking Knocks Price Off Highs
Still, holding those highs proved tricky. By the U.S. morning, BONK had eased back about 1%, slipping to $0.00002646. The sharpest reversal came at 12:52 UTC, when a 38-billion-token spike in volume marked what looked like profit-taking from larger holders. Despite that, support at $0.000024 — the same level that launched the rally — remains intact, keeping the bullish structure alive for now.
Adding to the intrigue, this rally arrived just days after Nasdaq-listed Safety Shot revealed a $25 million allocation to BONK’s ecosystem through the Bonk.fun launchpad. While the timing suggests the news may have already been priced in, it underscores that BONK’s narrative now has an institutional angle, not just meme-coin hype.
Key Levels to Watch
For now, traders are eyeing the same levels that defined the last move. Support is locked in at $0.000024, with resistance sitting firmly at $0.000027. A break higher could open the door to fresh momentum, while failure to hold the base might see a retest of deeper support zones. With volatility staying elevated, the next sessions could bring either a clean breakout or a grinding consolidation before the next big push.
The post BONK Jumps 10% Before Sellers Step In — Key Support Still Holding first appeared on BlockNews.
Read More