TON Token Declines 4.67% Amid High Selling Pressure
Telegram’s cryptocurrency TON is facing short-term downward pressure, as indicated by CoinDesk Research's technical analysis model.
- Token declined 4.67% intraday to $3.15 on high volume (3.65 million).
- Recent attempts show modest recovery; resistance forming at $3.24.
- Overall drop of 3% in the last 24 hours; CoinDesk 20 index lost 3.2%.
Technical Analysis
- Support zone established around $3.15-$3.16 with above-average trading volume.
- Strong selling pressure indicated by the steep price drop.
- Bearish trend continues with lower highs noted throughout.
- Recovery observed from $3.19 to $3.20, a gain of 0.4%.
- Price fell to $3.18 before finding support and moving upward.
- New resistance level at $3.21; consolidation occurring around $3.20.