TON Price Recovers 3.7% After Establishing Support Above $3.10
Geopolitical tensions and trade disputes are causing market volatility, affecting both traditional financial markets and cryptocurrencies.
The cryptocurrency market faces challenges amid global economic uncertainties. However, TON, the native token of The Open Network, has demonstrated resilience:
- Recovered from a recent correction, establishing support above $3.10.
- A symmetrical triangle pattern indicates potential for a 40% price movement in either direction, with current indicators leaning bullish.
Technical Analysis
- TON-USD exhibited volatility, with a trading range of 0.117 (3.7%) over 24 hours.
- Formed a V-shaped recovery after peaking at $3.21 and correcting to $3.10.
- Strong volume support at $3.11, with notable buying pressure.
- Recovery phase shows increasing momentum with higher lows indicating an uptrend channel.
- Price reclaimed $3.15 with decreasing volume, suggesting consolidation.
- In the last hour, TON-USD rose from $3.12 to $3.15, a gain of 1.8%.
- Decisive breakout occurred above the $3.14 resistance level with strong volume confirmation.
- Technical structure suggests potential continuation of uptrend if support at $3.15 holds.