Solana’s leading memecoin stabilizes inside a broad consolidation zone while traders monitor liquidity pockets and weakening structure
BONK, one of Solana’s most actively traded memecoins, is confronting a decisive moment after revisiting a major support region highlighted by elevated trading volume. While the broader market remains cautious, BONK’s price behavior suggests a phase of accumulation within a clearly defined range. Market analysts note that the asset’s short-term resilience contrasts with underlying structural weakness that traders should not ignore.
BONK Price Holds the Range Despite Downside Pressure
BONK continues to hover near the lower boundary of its multi-month consolidation band, a level aligned with significant historical liquidity. The chart shows that the memecoin has repeatedly tapped this support zone while staying below a sequence of bearish Break of Structure (BOS) signals.
Volume remains a defining factor. Recent sessions registered a sharp increase in turnover, confirming both the initial rejection from upper resistance and the recovery attempt that followed. BitXJournal market analyst explained that “volume spikes at major levels often signal smart-money activity, especially when price is compressing inside a range.”
This zone has acted as a magnet for liquidity, and such reactions underscore its importance. Still, experts caution that the market structure remains fragile. Another BitXJournal trader noted, “As long as BONK stays below the mid-range supply clusters, bulls face an uphill battle.”
Overhead Supply Zones Create Strong Obstacles
The chart reveals dense supply layers stretching across the 0.000015–0.000030 region. These areas previously triggered multiple rejections, reinforcing their significance. Each attempt to break higher was met with aggressive selling, creating a sequence of lower highs and signaling a controlled market dominated by sellers.
The current consolidation suggests the possibility of a deviation before a decisive move—either a reclaim of mid-range levels or a breakdown toward the highlighted weak low liquidity pocket.
Traders are closely tracking these zones because any breach of the lower boundary may expose BONK to deeper corrective levels, while a strong rebound backed by sustained volume could reset short-term bullish momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.