Telegram’s token TON dipped 8% in 24 hours, dropping from $3.20 to a low of $2.93 with significant selling pressure, according to CoinDesk research’s technical analysis model. TON was hit harder than other cryptocurrencies in the CoinDesk 20: the index (which includes the top 20 coins by market capitalization except for stablecoins, memecoins and stablecoins) is down 6.2% in the same period of time.
The selloff occurred after Israel struck Iranian facilities and military leadership late on Thursday night.
Technical Analysis
• TON experienced a significant 8.4% correction, dropping from $3.20 to a low of $2.93 over a 24-hour period.
• Above-average volume of 3.36 million established a strong resistance at the $3.09 level.
• A notable volume spike of 7.74 million created a high-volume support zone around $2.94.
• Price subsequently consolidated between $2.95-$2.99, with recent price action showing signs of stabilization.
• In the last hour, TON showed recovery, climbing from $2.95 to $2.96, representing a 0.3% gain.
• Strong buying interest emerged with 284,843 units traded, establishing support at $2.96.
• Minor pullbacks quickly found support, suggesting resilient buyer interest.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.