Telegram-Connected TON Drops 8% as $3.00 Support Level Collapses

Toncoin (TON) Slides Below $3.00 Support Amid Market Turmoil, Shows Early Signs of Stabilization

Toncoin (TON), Telegram’s associated cryptocurrency, has fallen under selling pressure amid ongoing global economic uncertainty and market volatility. The token recently broke through the critical $3.00 support level on high trading volume, signaling increased bearish momentum.

Trading within a descending channel marked by lower highs and lows, TON’s price dipped to a low of $2.89 before mounting a modest rebound to close near $2.94, suggesting the emergence of potential support.

Key technical indicators highlight a volume spike late in the session, pointing to possible capitulation and a V-shaped recovery pattern that lifted TON back above the $2.90 psychological mark.

Analysts identify the $2.88 to $2.90 range as a crucial area to monitor for signs of trend reversal. Despite profit-taking near resistance around $2.95, TON has maintained support above $2.93.

While broader market uncertainties persist, these developments may signal that TON is finding footing, potentially setting the stage for a stabilization phase.