TON Coin Stabilizes at New Support Level, Gains 3% in Recent Session: Technical Analysis Insights
After a turbulent period where prices oscillated between $2.72 and $2.93, Toncoin (TON) has experienced robust buying at lower levels, as indicated by CoinDesk Research's technical analysis model. In the past 24 hours, the coin has risen by 3%, underperforming the CoinDesk 20 index, which has increased by 5.5% in the same timeframe.
- The price experienced a 7.59% swing between the low of $2.72 and the high of $2.93 over 24 hours.
- Strong buying emerged with above-average volume (4.08M), establishing support around $2.75.
- A consistent uptrend emerged with a peak of $2.93 before consolidating in the $2.89-$2.91 range.
- Higher lows throughout the period indicate increasing bullish momentum.
- Resistance around $2.93 remains a crucial level for potential breakout.
- A minor price correction, declining 0.27% from $2.91 to $2.90.
- Significant downward volatility, reaching a session low of $2.89.
- A sharp recovery with above-average volume (58K+), pushing prices briefly above $2.91.
- The final 15 minutes showed consolidation between $2.90-$2.90, establishing new short-term support.
- The $2.90 level is emerging as a key psychological support area.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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The recent price stabilization of TON Coin at a new support level and its 3% gain in the past session signal promising stability amidst market volatility, hinting potential for further uptrends based on technical analysis insights.
