Recent market activity highlights TON’s ongoing challenge to sustain stability. After a failed breakout attempt at $3.22, selling pressure intensified during peak trading hours, according to technical analysis. While the broader market, represented by the CoinDesk20 Index, remained relatively flat, technical indicators suggest short-term bearish momentum. The formation of lower highs and lower lows indicates sellers are gaining control, especially after the breakdown of the critical $3.16 support level, confirmed by high-volume sell-offs. This development opens the possibility of further downside as global economic tensions continue to influence investor sentiment across both traditional and crypto markets.
Key technical insights include:
– A failed push past the $3.22 resistance, followed by persistent selling.
– Accelerated decline with above-average trading volume.
– Support re-emerged at $3.16, where buyers previously stepped in strongly.
– The pattern of lower highs and lows signals bearish momentum building.
– A short-term double top at $3.18 was broken down, reinforcing the downward trend.
– Heavy volume sell-offs drove prices down to $3.16, confirming the support breach.
– Price swings of around 1.2% within an hour highlight increasing market volatility.
As global economic uncertainties persist, these technical signals suggest traders should remain cautious and watch for further downside movement in TON. Stay tuned for updates as market conditions evolve.
