TON is consolidating below $1.65, with support around $1.59, as traders watch for a breakout above $1.70 to regain momentum.
The token fell 3.3% over the past 24 hours to $1.596, tracking weakness across the broader crypto market. Earlier, TON hit $1.6929 before losing steam and finding support near $1.5930, according to CoinDesk Research’s technical analysis.
Trading volume has risen roughly 20% above the seven-day average, suggesting institutional accumulation. However, price action has lagged, with repeated attempts to breach $1.65 failing, indicating measured buying rather than retail-driven momentum.
Telegram, which leverages the TON ecosystem for its Web3 infrastructure, launched its crypto wallet service in Uzbekistan. Regulatory approval allows users to buy and trade crypto with local bank cards. While this expands TON’s presence in Central Asia, it may not immediately translate to higher token demand.
From a technical perspective, a move above $1.70 could restore bullish momentum, while a drop below current support could open the path toward $1.55.
Overall, TON’s growing on-chain revenue and wallet adoption are balancing short-term market pressure and ongoing uncertainty in the crypto sector.
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