A Bearish Wall Looms Over BONK: Fade Lower or Fight Back for Gains?

TheNewsCryptoPublished on 2026-01-08Last updated on 2026-01-08

Abstract

BONK, a Solana-based meme coin, is experiencing significant bearish pressure, with its price dropping over 8% to around $0.00001061. The broader meme coin market has also declined, losing more than 8% in market cap. Technical indicators suggest a continued downtrend: the MACD shows weakening upside momentum, the CMF indicates selling pressure, and the RSI at 42.74 leans slightly bearish. If the decline persists, BONK may test support at $0.00001050, with further risks of falling below $0.00001039. However, a reversal could push it toward resistance at $0.00001072 or higher. Market sentiment remains weak to neutral, with neither bulls nor bears in clear control.

2.66% loss invites solid red waves across the digital assets, with their prices losing momentum, falling to former lows. Meanwhile, the meme coin market cap is settled at $48.50 billion, after dropping over 8% in the last 24 hours. Most of the prominent meme coins are hovering on the downside. Significantly, the Solana-based BONK has faced a loss of 8.29%.

The meme coin has traded on the upside, at around $0.00001176 in the early hours. Gradually, the bearish shift in the BONK market pushed the price to descend toward a low range of $0.0000106. If the asset continues to hold with the downside trading pattern, it might witness more losses, entering the red zone.

The CoinMarketCap data has reported that BONK trades within the $0.00001061 zone, at the time of writing, with the market cap touching $937.57 million. In addition, the daily trading volume of the meme coin has decreased by over 32.26%, likely reaching the $185.27 million mark.

BONK Faces Bearish Pressure as Technicals Slide

The four-hour technical analysis of BONK highlights the bearish shift, with the Moving Average Convergence Divergence (MACD) line situated below the signal line. The upside momentum is weakening, and if the gap widens, it confirms continued pressure on the downside.

Moreover, the Chaikin Money Flow (CMF) indicator at -0.20 brings selling pressure in the meme coin market. Also, the capital is flowing out of the asset, but it is not extremely bearish. The sustained negative value confirms weak demand and often supports further downside.

BONK’s ongoing market sentiment is weak to neutral, as the Relative Strength Index (RSI) is at 42.74. The asset is neither oversold nor overbought, but the momentum leans slightly bearish, and the price may continue to drift lower unless it moves back above 50. Notably, the Bull Bear Power (BBP) reading of -0.00000117 shows very weak bearish dominance. As it is extremely close to zero, neither bulls nor bears have clear control, and the price may move sideways until a stronger trend emerges.

The price chart of BONK exhibits a bearish correction, and the price might fall and test the support range at $0.00001050. An extended loss could trigger the death cross emergence, driving the price below $0.00001039. On the support side, assuming the meme coin reverses the momentum, the price could climb to its nearest resistance at the $0.00001072 level. A steady bullish pressure might initiate the formation of the golden cross, and send the BONK price above $0.00001083.

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How to Buy BONK

Welcome to HTX.com! We've made purchasing Bonk (BONK) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Bonk (BONK) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Bonk (BONK)After purchasing your Bonk (BONK), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Bonk (BONK)Easily trade Bonk (BONK) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

6.7k Total ViewsPublished 2024.03.29Updated 2026.06.02

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