Meme Token BONK Rebounds as Volume Surges 67%
BONK (BONK/USDT) saw renewed bullish momentum on Friday, climbing 4.6% to trade near $0.00001420 as buyers stepped back in following a quiet trading week. The move lifted the meme-inspired token above its immediate $0.00001380 resistance level, marking a short-term reversal and signaling a potential shift in sentiment among retail traders.
The rebound was supported by a 67% surge in trading volume, indicating an uptick in participation after several sessions of low volatility. On the daily chart, BONK’s price action shows stabilization within the $0.00001300–$0.00001500 zone, a region that has previously acted as both support and resistance.
BitXJournal Technical analyst commented, “BONK’s push above $0.0000138 is a constructive sign in the near term, but bulls will need to hold momentum above $0.0000150 to confirm a stronger breakout.”
Chart patterns suggest that the token broke out of a descending channel formation, which had constrained price movement through most of the summer. The breakout coincides with a pickup in volume and relative strength, signaling that short-term traders may be positioning for a move toward higher resistance near $0.00001800–$0.00002000.
Despite the positive momentum, the broader technical structure remains cautious. BONK continues to face significant overhead resistance in the $0.00002200–$0.00002500 zone, where prior rallies have repeatedly stalled. Market observers warn that failure to sustain above $0.00001350 could reintroduce downside pressure, potentially testing the $0.00001200 support area.
“While BONK’s recent price recovery is encouraging, it’s still trading far below its July peak. Sustained volume and consistent closes above key resistance will be essential to rebuild investor confidence,” BitXJournal strategist noted.
With growing market activity and speculative demand returning to meme assets, BONK’s latest rebound offers a glimpse of renewed optimism—but whether that momentum can translate into a lasting trend remains to be seen.
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.