Toncoin Rebounds After $3.00 Scare, Signals Resilience Amid Market Jitters
Toncoin (TON) faced a steep drop this week as broader crypto markets wobbled under the weight of renewed political tensions. The token slipped from $3.25 to $3.00 on June 5 — a 7.7% slide — before staging a swift recovery that highlighted renewed confidence from buyers.
The sharp decline triggered a flood of trading activity, with volume spiking past 10 million units, as bargain hunters moved in at the key $3.00 psychological support. TON then bounced to $3.17 within 18 hours, regaining nearly all lost ground and forming a short-term uptrend.
Technical patterns now show a tightening range with higher lows forming between $3.16 and $3.18, while recent breakout attempts have cleared intraday hurdles at $3.11 and $3.15. A 2.5% move from $3.14 to $3.17 capped off the recovery, pointing to fresh bullish interest.
Highlights:
- Selloff depth: $0.25 drop (-7.7%) to key round-number support
- Volume surge: Over 10M traded at the $3.00 level
- Recovery strength: +5.6% rebound to $3.17
- New structure: Ascending pattern with resistance near $3.20
- Market backdrop: TON defies broader weakness; CoinDesk 20 Index down 0.8%
While uncertainty continues to loom over the broader crypto market, TON’s ability to absorb pressure and bounce decisively may mark it as one of the stronger contenders in the current environment. Traders are now watching closely for a breakout above $3.20, which could confirm a sustained shift in momentum.
