BONK Price Weakens as Market Structure Turns Bearish Amid Heavy Trading Volumes
The Solana-based meme token BONK extended its decline this week after slipping below a major support region that had held since early summer. The move has intensified bearish sentiment, with technical signals pointing toward a vulnerable short-term structure and the possibility of deeper losses.
On the daily chart, BONK broke beneath the wide liquidity zone near 0.00001000, an area that previously triggered multiple rebounds. Trading activity spiked as the level gave way, reflecting heightened volatility and growing uncertainty among short-term holders.
The loss of this support marks a structural shift that places BONK at risk of revisiting early-year lows.
Technical Traders Flag Fresh Breakdown Signals
The chart shows several recent Break of Structure (BOS) signals forming as BONK continued to register lower highs and lower lows. A series of failed attempts to reclaim demand zones between 0.00001500 and 0.00002000 highlights persistent selling pressure.
BitXJournal Market structure analyst noted that BONK is now hovering just above a historically thin liquidity region.
“Once price falls beneath a multi-month base, recovery becomes much more difficult. BONK is now trading within a zone where buyers have shown limited interest,” he said.
The chart also indicates a Weak Low just beneath current price action, suggesting that the market may attempt to sweep liquidity below that level before any meaningful reversal.
A clean break of that low could accelerate downside momentum, pushing BONK toward fresh yearly levels.
Momentum Indicators Signal Caution
Traders monitoring the breakdown argue that BONK would need to reclaim the 0.00001200–0.00001500 supply region to neutralize the bearish structure. Until then, the token remains exposed to further drawdowns.
BitXJournal Technical strategist stated:
“The overall trend remains decisively bearish. Without a clear change of character, sellers maintain control, and rallies are likely to be met with resistance.”
While BONK has previously shown an ability to snap back from deep retracements, the latest structural breakdown signals a more cautious environment. Unless buyers defend the remaining support cluster, BONK may face extended downward pressure in the sessions ahead.
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.