TON is trading in a narrow range below $1.65, with support near $1.59, as traders watch for a potential breakout above $1.70 to regain bullish momentum.
Over the past 24 hours, the token slipped 3.3% to $1.596, moving in line with broader crypto market weakness. Earlier, TON reached $1.6929 before losing ground and finding support around $1.5930, according to CoinDesk Research’s technical analysis.
Trading volume surged roughly 20% above the seven-day average, a sign of possible institutional accumulation. Yet, price action has lagged, with the token repeatedly failing to clear $1.65, suggesting measured buying rather than retail-driven momentum.
Telegram, which relies on the TON ecosystem for its Web3 infrastructure, launched its crypto wallet service in Uzbekistan. Following regulatory approval, local users can now buy and trade crypto via bank cards. While this expands TON’s footprint in Central Asia, it may not immediately boost demand for the token.
Technically, TON’s outlook is mixed. A move above $1.70 could restore upward momentum, while a drop below current support could target $1.55.
For now, the token’s fundamentals — including rising on-chain revenue and wallet adoption — are contending with short-term market pressure and ongoing uncertainty across the crypto sector.
