Solana News Update: BONK Faces Turning Point as Bullish Signals Meet Strong Bearish Barriers While Solana Trading Volume Soars
- Solana-based meme coin BONK stabilizes near $0.000014 support, with 71% surge in trading volume above seven-day average amid market rebound. - Technical indicators show conflicting signals: RSI near 40 suggests fading bearish momentum, while MACD bullish crossover sparks short-term optimism. - BONK's Solana infrastructure and $3B ecosystem revenue position it as a key meme coin, contrasting with FLOKI/PEPE's similar but less institutionalized trajectories. - Market remains divided on $0.0000143 breakout
The Solana-based
Recent price movements over the last week show a mixed trend. BONK initially challenged resistance near $0.00001518 but pulled back, unable to maintain levels above $0.0000146–$0.0000150. Since then, it has consolidated above $0.0000138–$0.0000140, forming a short-term downward channel. Technical metrics present a divided outlook: the Relative Strength Index (RSI) sits close to 40, hinting at weakening bearish pressure, while the Moving Average Convergence Divergence (MACD) signaled a bullish crossover on Thursday. Traders are now watching for a close above $0.0000143 to validate a possible recovery, or a persistent drop below $0.0000139, which could push prices down to $0.0000137.
The recent spike in volume, which
When compared to other meme coins such as
Opinions remain split regarding BONK’s short-term direction. Bulls highlight the MACD crossover and the RSI’s upward movement as indicators of a potential move toward the 50-day EMA at $0.000018. Bears, on the other hand, caution that without consistent buying above $0.0000143, the token may revisit lower price levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Alliance Global Boosts IIPR Valuation on Improving Tenant Payment Outlook

Piper Sandler Trims Best Buy (BBY) Price Target, Maintains Neutral Rating

Flowers Foods (FLO) Target Lowered by Stephens after Quarterly Results

Deutsche Bank Trims VICI Price Target, Company Advances $2.1B in Strategic Investments
