“BONK retreats from recent highs, sliding below $0.0000141 as volatility spikes and traders brace for continued range-bound action”, — write: www.coindesk.com
After testing the upper range near $0.00001518, the token fell steadily lower through the Asian and early European trading hours.
The decline came amid a surge in trading activity, with 1.13 trillion tokens changing hands — 71% above the seven-day average, according to CoinDesk Research’s technical analysis data model.
The heightened turnover reflected defensive positioning as traders trimmed exposure following BONK’s repeated failure to hold above the $0.0000146–$0.0000150 resistance band.
Price action turned decisively bearish late Wednesday when BONK slipped below $0.0000142, confirming renewed short-term weakness.
From a technical standpoint, BONK’s pattern now reflects a descending short-term channel, with lower highs since Oct. 29’s peak and steady support around the $0.0000138–$0.0000140 zone. Momentum indicators remain neutral-to-bearish, hinting at consolidation rather than immediate recovery. A close above $0.0000143 would be needed to signal renewed upside, while sustained pressure below $0.0000139 could expose the next downside target near $0.0000137.
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.
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