Meme token steadies after weeks of decline, with traders watching breakout zones
BONK/USDT is finding support around the $0.000018 level, stabilizing after a pullback from its late August peak. The meme-inspired token is attempting to hold ground at this critical demand zone, which has served as a historical accumulation area in prior trading cycles.
On the daily chart, BONK has successfully defended the green support band near $0.000018, where buyers previously stepped in to reverse downtrends. Analysts highlight that this region remains crucial in determining whether BONK can avoid a deeper retracement.
Above, immediate resistance sits at $0.000024–$0.000027 (marked by the beige zone), followed by a major supply area near $0.000039–$0.000045 (red band). These levels have repeatedly capped rallies, making them the zones to watch for any sustainable breakout.
“As long as BONK holds above $0.000018, the structure remains constructive. A daily close above $0.000024 could spark a short-term rally, but failure to reclaim that level may keep the token in sideways consolidation,” One of BITX market strategist observed.
Trading volumes show a gradual decline compared to earlier surges, signaling a more measured participation from market participants. This could indicate that speculative interest has cooled temporarily, though stronger inflows would be needed to confirm a breakout.
Despite its speculative nature, BONK’s resilience mirrors a broader pattern seen across meme tokens, where community-driven enthusiasm and technical levels combine to shape trading behavior. “Meme coins often respond quickly to liquidity inflows. Holding above support is a signal that dip buyers are active,” According to BITX analysts.
For now, BONK remains in a tight consolidation range, with $0.000018 as its anchor support and $0.000024 as the near-term ceiling. Traders will be watching closely to see if momentum builds toward the upper resistance, or if a loss of support triggers further downside.
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.