TON Token Drops 8% Amid Significant Selling Pressure
Market Overview
- TON dropped 8% in 24 hours, from $3.20 to a low of $2.93.
- CoinDesk 20 index decreased by 6.2% during the same period.
- Selloff coincided with Israeli strikes on Iranian military targets.
Technical Analysis
- Correction of 8.4% recorded with significant trading volume of 3.36 million, establishing resistance at $3.09.
- Volume spike of 7.74 million created support around $2.94.
- Price consolidated between $2.95 and $2.99, showing stabilization signs.
- Recent recovery saw price rise from $2.95 to $2.96, a 0.3% gain.
- Strong buying interest with 284,843 units traded, establishing support at $2.96.
- Minor pullbacks found support quickly, indicating resilient buyer interest.