The Solana-based memecoin BONK drifted back toward recent lows on Monday after failing to sustain gains during a high-volume session.

The token traded across a wide intraday range before settling near its lower bounds, reflecting heightened volatility rather than a clear directional move, according to CoinDesk Research’s technical analysis data model.

Trading activity picked up as volume surged well above recent averages while BONK approached short-term resistance around $0.0000090. The token was unable to hold above that level, and the ensuing pullback pushed it back toward the lower edge of its established range.

BONK later stabilized near $0.0000086–$0.0000088, a zone that has repeatedly acted as a short-term reference point in recent sessions. Although price compression emerged toward the close, the broader technical structure remained intact, with the token still trading below previous support levels, which now act as a ceiling for upside attempts.

From a technical perspective, BONK continues to oscillate within a defined range. Elevated volume highlights sensitivity near nearby resistance, and until the token reclaims levels above $0.0000090, price action is consistent with consolidation near the lower end of the range rather than signaling a confirmed trend shift.