BONK Plunges 3% as Memecoin Fails to Shatter Crucial Resistance Barrier
BONK hits another wall—memecoin's 3% drop signals deeper troubles ahead.
Resistance Level Holds Firm
The token couldn't break through key resistance, leaving bulls scrambling. Momentum stalls as sellers dominate every attempted rally.
Market Sentiment Shifts
Traders are losing patience with the sideways action. Volume drying up suggests fading interest—classic memecoin fatigue setting in.
Technical Breakdown
Failed breakouts typically lead to deeper retracements. Next support levels looking vulnerable if this weakness persists.
Another day, another memecoin proving that 'fundamental value' is just what bagholders call hope—meanwhile, serious projects keep building actual utility.
Technical Analysis
- BONK capped at $0.00002308, serving as key resistance.
- Sharp decline from $0.00002285 to $0.00002217 between 01:00-05:00 UTC on Aug. 19.
- Trading volume exceeded 600 billion tokens during peak selling activity at 03:00 UTC.
- Repeated failures to reclaim $0.00002250 confirmed persistent selling pressure.
- Decline of 2% from $0.00002251 to $0.00002117 highlighted continued weakness.
- Brief recovery to $0.00002244 at 13:54 UTC reversed quickly, reinforcing descending channel trend.
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