TON Surges Past $3 with Exceptional Trading Volume and Support Levels
The cryptocurrency TON has surpassed the $3 mark, showing strong momentum with trading volume nearly three times the average.
Key factors include:
- Increased interest in Telegram's ecosystem as WhatsApp introduces ads, making TON appealing for ad-free messaging.
- Strong support levels established despite recent volatility, reflecting institutional participation and adoption of Telegram's blockchain.
Technical analysis highlights:
- Uptrend with higher lows and highs; broke resistance at $2.97 on high volume.
- Support at $2.94 and new level at $2.982 formed after volatility.
- Trading volume during peak hours exceeded 3 million, indicating institutional buying.
- V-shaped recovery pattern observed with significant volume spikes during selloff and recovery phases.
- Reclaimed $2.995 post-correction, reinforcing bullish outlook.