BONK recorded a daily drop of nearly 4% after giving up key levels, which rekindles technical weakness and intensifies selling pressure. This move affects speculative traders and holders with short exposure, and confirms a technical deterioration that, if it persists, could accelerate capital outflows and raise volatility in the Solana ecosystem.
Over the past month, BONK has accumulated a decline of about 42% from its monthly highs, with pullback days of 4.06% and occasional episodes of 10–11%, according to the reviewed report. The token has breached psychological and technical supports located at $0.0000137, $0.00001200 and $0.0000146, and now faces a dynamic resistance in the Ichimoku Kijun at $0.00001211.
The bearish bias is supported by technical signals and by an increase in volume above its average, while the price faces dynamic resistances and psychological supports whose loss defines immediate risk.
Selling pressure was accompanied by volume spikes 46–47% above the average, suggesting broad participation in the selling rather than isolated adjustments. Indicators confirmed a bearish bias: MACD signaling a sell and ADX above 37, reflecting a defined and strong trend. Short-term RSI enters oversold —7 days at 33 and 4 hours at 27.8—, which suggests technical exhaustion, although it does not guarantee a sustainable bounce. (ADX measures trend strength; high readings indicate a marked trend, not its direction).
Why is BONK still falling?
Traders Union highlighted an opening gap to the downside and a close near the daily range low, a sign of persistent volatility during the session.
In parallel, BONK continues product development and adoption: more than 400,000 holders, around 120 integrations across 9 networks, its own DEX (BonkSwap) and a treasury initiative to acquire 5% of the circulating supply. These elements offer a structural counterweight, but have not halted the current technical reaction.
Technical weakness could translate into additional pressure if support at $0.0000129 is lost, a level pointed out by traders as the immediate reference. The risk of liquidations and volatility increases, especially for leveraged positions, and a sustainable rebound would require volume above the average; without that support, it is difficult to reverse the trend. There also remains a reputational risk for memecoins transitioning towards utility, despite integrations and treasury efforts.
Traders monitor the reclaiming of resistances above $0.00001211 and the preservation of support at $0.0000129 as immediate direction indicators; the absence of buyer volume above the average will keep the bearish bias. In this technical scenario, the priority for many participants will be capital preservation until a sustainable reversal is confirmed.
