The cryptocurrency market is witnessing increasing volatility amid rising global economic tensions, with the currency linked to the Telegram application ($TON
after reaching key resistance levels. Recent price movements show that the TON-USD pair is struggling to maintain momentum above the resistance area at $3.24, where significant selling pressure has emerged with trading volumes above average.
However, TON has exited a downward channel, which may indicate the end of its bearish trend that lasted for several months, with key resistance now in the range of $4.23-$4.26.
Technical Analysis
• TON showed a trading range of $0.065 (2.05%) over a 24-hour period.
• Significant selling pressure appeared in the $3.24-$3.25 area.
• The price initially showed strength, reaching a peak of $3.21 before facing a sharp sell-off.
• Selling intensified as trading volume exceeded 150,000 units.
• TON stabilized at $3.18 with declining volume, indicating a temporary exhaustion of selling pressure.
🇾🇪🇾🇪🇾🇪🇾🇪🇾🇪