Toncoin TON established strong support at $2.94-$2.96 before making a decisive move upward, demonstrating resilience even after a sharp pullback, according to CoinDesk research’s technical analysis model.
The token is up 1.5% in the last 24 hours, underperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has risen 3.6%.
Technical Analysis
• Price formed a solid support zone at $2.94-$2.96 early in the period, followed by a decisive breakout above $3.00.
• Significant above-average volume (1.87M and 1.54M) supported the initial breakout.
• Despite a sharp pullback to $2.98 with the highest volume spike (2.97M), buyers quickly returned.
• A strong consolidation pattern formed, establishing support at $2.985.
• High volume (272,668 units) triggered the final breakout above $3.00.
• New support zone established at $3.00-$3.01, confirming strength of the uptrend.
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.