TON Faces Persistent Sell Pressure Despite Attempts to Stabilize Near $3.15
Toncoin (TON) continues to trade under pressure, with bearish sentiment dominating the short-term outlook. Despite fleeting signs of a bounce, the token has struggled to reclaim upward momentum, according to CoinDesk Research’s technical indicators.
TON fell as much as 4.67% intraday, reaching a low of $3.15 on elevated trading volume (3.65 million) — a sign that aggressive selling remains a key driver. The token has since attempted to recover but is encountering consistent resistance around $3.21–$3.24, where selling has repeatedly re-emerged.
Over the past 24 hours, TON has lost 3%, tracking the broader CoinDesk 20 Index, which declined 3.2% amid general weakness across major altcoins.
Technical Snapshot:
- Support Holding: Initial downside was absorbed around $3.15–$3.16, forming a tentative support zone with above-average volume.
- Resistance Thickens: The upside remains capped, with $3.24 now acting as a short-term ceiling amid waning bullish follow-through.
- Trend Still Weak: The market continues to print lower highs, reinforcing a bearish structure.
- Intraday Action: A brief lift from $3.19 to $3.20 (+0.4%) was met with renewed selling, returning prices to a tight consolidation band.
- Volatility Spike: Swift price reversals highlight unstable conditions, as neither side has asserted clear control.
Unless TON breaks out above its current resistance with strong volume, analysts say the token could remain locked in a choppy, range-bound environment — with a bias toward further downside if support gives way.
