TON Price Drops Amid Short-Term Technical Breakdown
TON, the cryptocurrency closely linked with Telegram, experienced increased selling pressure, triggering a notable intraday drop and a volume spike. The asset fell from $3.33 to $3.26, marking a 2% decline in the past 24 hours, before finding short-term support around $3.25.
“High-volume selloff patterns and sharp reversals are signaling caution for short-term traders.”
Volume Surge Signals Market Volatility
One of the most critical observations in recent trading was a sudden volume surge of over 8.23 million TON in one hour — nearly three times the average 24-hour volume. This sharp spike accompanied the price dip, indicating a potential panic-driven selloff or whale exit activity.
“The spike in volume above 152K in one hour confirmed heavy activity from large players or reactionary trades.”
Key Support and Resistance Levels in Focus
TON’s short-term price structure now hinges on a few critical levels:
- Support Zone: $3.22–$3.25 has emerged as a key buffer, preventing further downside.
- Resistance Zone: $3.28–$3.35 is acting as a barrier, where earlier selling pressure reemerged.
“Sellers re-entered around $3.28, confirming it as immediate resistance.”
Trend Indicators Show Bearish Momentum
Technical indicators point toward continued weakness in the near term. The 4-hour moving average is trending downward, reinforcing the bearish sentiment. However, price action also showed a bearish-to-bullish reversal after touching $3.25 and slightly rebounding to $3.26.
“TON formed a small intraday reversal, but a clear directional trend is yet to confirm.”
Market Context: Broader Crypto Index Moves Higher
Despite TON’s localized weakness, the broader crypto market sentiment remains positive. The top 20 digital assets index is up by 2.5%, suggesting TON’s dip may be isolated rather than market-driven.
What to Watch Next
For traders and investors, watching the $3.25 support level is crucial. A break below could expose TON to further downside, possibly toward the $3.18–$3.20 range. Conversely, reclaiming and holding above $3.28 may trigger a push toward $3.34–$3.35.
“Volume dynamics and trend confirmation will determine TON’s next direction.”