TON Retreats 3.1% in Wake of Increased Crypto Volatility

Toncoin Battles to Reclaim Lost Ground After Sharp Price Drop

Toncoin (TON) is attempting to stage a comeback after a steep slide pushed prices below key technical levels, according to a new analysis from CoinDesk Research.

In the past 24 hours, TON has fallen 3.1%, lagging behind the broader CoinDesk 20 Index, which recorded a milder 1.7% decline.

Earlier trading saw heavy selling drive TON below the crucial $2.92 support mark, with trading volume surging to around 7.07 million tokens. However, buying interest surfaced near $2.87, hinting at traders trying to establish a new support zone.

Despite this, resistance around $2.99 has proven tough to break, leaving TON’s immediate outlook cautious.

Key Technical Signals:

• Significant sell pressure dropped TON under $2.92, with 7.07 million tokens changing hands.
• The $2.99 level remains strong resistance, stalling repeated breakout attempts.
• Buying activity emerged at $2.87, suggesting a potential price floor.
• A sharp rebound from $2.85 shows possible recovery momentum if resistance yields.
• The $2.880–$2.900 range is pivotal for confirming an upward trend.
• The $2.85 support level is crucial for TON’s short-term prospects.

While Toncoin shows signs of stabilizing after its sharp drop, it still faces key resistance hurdles before a clear upward trend can take shape.