Latest news with #TON-USD
Yahoo
21 hours ago
- Business
- Yahoo
TON Surges 2.7% on Massive Volume Before Sharp Reversal
TON-USD climbed from $3.156 to $3.24, showing remarkable strength with a 2.66% gain during a powerful breakout supported by high trading volume, according to CoinDesk Research's technical analysis model. The cryptocurrency found support near the $3.19-$3.20 zone, forming a potential short-term double bottom pattern that could serve as a level for continuation of the broader uptrend. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — is up 1.1% in the last 24 hours. Technical Analysis • TON-USD demonstrated remarkable strength over the 24-hour period, climbing from $3.15 to a peak of $3.24, representing a range of $0.08 (2.66%). • The price action formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout with the highest volume of the period (5.46M). • Key support established at $3.15-$3.16 held firmly during multiple tests, while resistance at $3.20 was decisively broken on high volume, confirming the bullish momentum. • The subsequent consolidation near $3.20 after reaching the $3.24 high suggests profit-taking but maintains most gains, indicating potential for continued upward movement if volume support persists. • In the last hour, TON-USD experienced significant volatility, initially continuing its upward momentum to reach a peak of $3.23, representing a 0.5% gain. • This bullish trend reversed sharply, with price cascading down to $3.19, marking a 2.7% decline from the peak. • The sell-off was accompanied by high volume, indicating strong distribution. • The price found support near $3.19 and staged a modest recovery to close at $3.2, forming a potential double bottom pattern. • This price action suggests profit-taking following the earlier breakout, with the $3.19-$3.20 zone now established as a critical support level for potential continuation of the broader uptrend. 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. Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
TON Struggles Against $3.24 Resistance Level, Settles at $3.18
The cryptocurrency market is experiencing heightened volatility amid escalating global economic tensions, with Telegram-linked token TON consolidating after reaching key resistance levels. Recent price action shows TON-USD struggling to establish momentum above the $3.24 resistance zone, where significant selling pressure emerged with above-average trading volumes. Even so, TON has broken out of a descending channel, potentially signaling an end to its months-long downtrend, with key resistance now at the $4.23-$4.26 range. Technical Analysis • TON exhibited a trading range of 0.065 USD (2.05%) over the 24-hour period. • Significant selling pressure emerged at the $3.24-$3.25 zone. • Price initially showed strength, reaching a peak of $3.21 before encountering a sharp sell-off. • Selling intensified with volume surpassing 150,000 units. • TON settled at $3.18 with diminishing volume, suggesting temporary exhaustion of selling pressure.
Yahoo
02-06-2025
- Business
- Yahoo
TON Surges 3.7% in V-Shaped Recovery After Finding Strong Support at $3.11
Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements. The cryptocurrency market continues to navigate choppy waters amid escalating global economic uncertainties. TON, the native token of The Open Network, has shown remarkable resilience despite broader market pressures, recovering from a recent correction to establish support above the $3.10 level. This recovery comes as a symmetrical triangle pattern suggests potential for a 40% price movement in either direction, with current indicators leaning toward bullish momentum. Technical Analysis • TON-USD demonstrated remarkable volatility over the 24-hour period, establishing a trading range of 0.117 (3.7%). • Price action formed a clear V-shaped recovery pattern after reaching a peak of $3.21 before correcting to $3.10. • Strong volume support emerged at the $3.11 level where buying pressure appeared across multiple hourly candles. • Recovery phase showed increasing momentum with higher lows forming a clear uptrend channel. • Price reclaimed the $3.15 level with decreasing volume suggesting consolidation. • In the last hour, TON-USD surged from $3.12 to $3.15, representing a 1.8% gain. • A decisive breakout occurred when price penetrated the $3.14 resistance level with strong volume confirmation. • Technical structure, combined with decreasing selling pressure in the final minutes, suggests potential continuation of the uptrend if the newly established support at $3.15 in to access your portfolio
