Bonk, a Meme token with headquarters in Solana, slid 14% in the last 24 hours, falling from $ 0.000035 to $ 0.00003096.
The Token experienced high volatility, with a commercial volume greater than 2.39 billion Bonk, which suggests an aggressive reposition among institutional participants.
The market resistance was established early around the level of $ 0.000036, where the pressure side pressure increased, coinciding with the data books that show institutional liquidations by a total of more than 2.6 billion tokens, according to the technical analysis data model of Coindesk Research.
Temporary stabilization occurred during the night, with support that was formed about $ 0.000031 as a volume of the sales side cooled to 1.48 billion tokens, but the ascending impulse remained limited.
The most pronounced losses arrived between 13:06 and 14:05 UTC on July 29 when Bonk fell 3%.
The quantitative models of high frequency commercial companies suggest that it could be a greater inconvenience, with an impulse that indicates a rupture below the key support threshold of $ 0.000031. Unless institutional demand arises, Bonk can be derived towards the psychologically significant level of $ 0.000030 in the short term.
TECHNICAL ANALYSIS
- The price fell 13.6% in 24 hours.
- The trade varied from $ 0.00003565 (high) to $ 0.00003062 (bass), a swing of 14.1%.
- Institutional sale with an increase of more than 2.6 billion tokens near resistance at $ 0.000036.
- The temporal support was formed around $ 0.000031 with 1.48 billion absorbed tokens.
- The decline of the final hour saw Bonk fall from $ 0.000032 to $ 0.000031, with 60b+ tokens negotiated.
- Algorithmic trade volumes increased between 13: 53–14: 03, a potential sign of detention triggers.
- The Quant models project is possible to decrease even more around $ 0.000030 if the resistance is maintained.
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