TON, the native token of The Open Network, saw heightened volatility over the past 24 hours, plunging 6.2% from its daily high amid broader market unease tied to geopolitical tensions. The token swung between $3.22 and $3.47, reflecting a 7.7% intraday range that underscores the crypto market’s sensitivity to global events.
Persistent selling pressure followed an early rally, pushing TON toward a key support level between $3.22 and $3.24.
Technical Levels Show Key Support and Resistance Zones
During the trading day, TON tested resistance between $3.44 and $3.47, facing strong rejections on high volume, particularly during the 14th and 15th hours of the session. This marks a crucial supply zone that may continue to cap upward momentum in the short term.
Support was confirmed at $3.22–$3.24, where buyers stepped in to halt further downside.
While the bearish momentum dominated early sessions, TON staged a modest recovery, climbing back above $3.27 before the market closed, suggesting bullish interest remains active — though tentative.
Market Sentiment Influenced by Global Macro Factors
The latest dip reflects a wider trend of macro-driven caution across crypto markets, as geopolitical tensions and trade disputes between major global economies introduce uncertainty. Risk assets, including cryptocurrencies like TON, tend to react quickly to such developments.
The price action highlights the fragile sentiment in crypto markets, where global events significantly impact investor behavior.
Open Interest Surges as Long Positions Rise
Despite price turbulence, derivatives data reveals that over 75% of TON’s open interest is now positioned long, a shift largely attributed to Telegram’s recent integration with Grok AI. The development sparked renewed optimism in TON’s ecosystem, encouraging traders to bet on future upside.
Telegram’s partnership with Grok AI triggered a sharp shift in open interest, favoring bullish positions.
Outlook: Recovery in Progress or Temporary Rebound?
Though buyers returned late in the session, pushing TON back above $3.27, volume patterns suggest lingering downside risk. The token must reclaim and hold above $3.44 to confirm a breakout from the recent range. Until then, the recovery remains fragile and vulnerable to broader market shifts.
Conclusion:
TON’s latest price action illustrates the highly reactive nature of crypto assets to both project-specific news and global macroeconomic forces. With support holding and long positions increasing, investors are cautiously watching for either a confirmed rebound — or renewed weakness.