TON Faces 3.1% Decline Amid Increased Market Volatility
Toncoin (TON) shows increased volatility amidst market fluctuations, breaching the $2.92 support level due to significant selling pressure, as per CoinDesk Research.
Key points include:
- Price declined 3.1% in 24 hours, while the CoinDesk 20 index fell 1.7%.
- Selling pressure peaked with a volume of 7.07M, breaking through the $2.92 support.
- A resistance zone is identified around $2.99, with multiple failed attempts to break this level.
- Potential stabilization appears near $2.87, with moderate buying interest following the drop.
- Bearish momentum persists; traders should monitor the $2.85 support closely.
- A V-shaped reversal pattern formed, indicating a significant bottom at $2.85.
- The $2.880-$2.900 area remains crucial for potential uptrend continuation.