BONK Extends Slide as Key Support Break Raises Prospect of Further Downside

Core Insights - BONK has experienced a decline to $0.00001006, continuing a downtrend after failing to maintain the $0.00001090 level [1] - A significant increase in trading activity was noted, with total volume reaching 1.06 trillion tokens, over 113% above the recent average [2] - The technical analysis indicates a series of lower highs and lower lows, with resistance at $0.00001032 being crucial for any potential recovery [3] Price Action - The price action confirmed a break below the $0.00001032 support level, which previously supported short-term consolidation [1] - Support near $0.00001017 is critical for assessing whether the current decline can stabilize; a sustained move below this level could lead to further declines [4] Trading Volume - The trading volume saw spikes of 28.6 trillion and 32.1 trillion tokens during late-session moves as BONK approached intraday lows near $0.00001017 [2] - The increase in trading activity aligns with the moment BONK slipped below its prior support band, indicating heightened market interest [2] Technical Indicators - Hourly charts reveal momentum indicators nearing oversold territory, suggesting potential for short-term bounces despite the prevailing downtrend [3] - Resistance at $0.00001032 is identified as the first threshold BONK needs to reclaim to improve its outlook [3]