BONK Holds Above $0.058977 Support as Price Trades Near Tight Consolidation

• BONK is trading at a new 24-hour rate up 5.6 percent at a price of $0.059524 in a tight range.
• The token is also above the support of $0.058977 that has pegged the recent price market in the short term.
• The nearest resistance is set at $0.05979 and the downward trendline still restricts the upsurges.

BONK was trading in a tight framework following holding near to its short-term support. The share was trading at a price of $0.059524, and this is 5.6 percent higher than it was over the last 24 hours. It was also evident in the chart that BONK has been trading on a downward trendline that has been forming the larger structure over a few weeks.

This trendline is now touching on a small consolidation zone, and the intersection formed the key focus of the traders who were following the pair. It is worth noting that the price was slightly over the major support of $0.058977 and this supported recent movements.The structure also reflected a controlled range that remained intact during the latest session.

Price Holds Steady While Resistance Caps Intraday Attempts

The upper boundary of the day sat at $0.05979, which acted as the immediate resistance. This level capped several attempts to move higher during the session. However, the small gap between the current price and this resistance kept the short-term picture tight. The movement also aligned with the chart pattern that formed beneath the descending trendline. The trendline limited upward attempts, and it maintained its role as the dominant technical feature.

BONK also recorded a 6.0% increase against BTC, which added another data point to today’s structure. That cross-move occurred while the price hovered inside the consolidation zone, and it supported the view that the pair stayed reactive around nearby boundaries. This information now leads into the broader market setup.

Consolidation and Support Interaction Form Current Market Structure

The ongoing interaction with $0.058977 remained important because the price touched this level several times in recent sessions. Each touch kept the support active and revealed where buying pressure concentrated. However, the consolidation above this level stayed tight, and it shaped the short-term pattern beneath the descending trendline.This tight pattern now defines the band between support and resistance. The narrow range provides the framework for upcoming movements as the price stays close to $0.059524. With this structure in place, the chart continues to revolve around the interaction between support, resistance, and the descending boundary.