TON Finds ‘Strong Support’ at $3.00 Level Amid Wild Crypto Price Swings

Toncoin

amongst cryptocurrencies that noticed vital worth volatility amid the tussle between President Trump and Elon Musk on the state of the U.S. financial system.

The TON token noticed a pointy 7.7% correction on June fifth, in accordance with CoinDesk Research’s technical evaluation mannequin. After dropping from $3.25 to $3.00, the asset discovered “strong support” at the psychologically vital $3.00 stage, the place excessive buying and selling quantity indicated substantial purchaser curiosity, the mannequin confirmed.

Recent worth motion reveals TON forming a possible assist zone between $3.164-$3.168, with patrons constantly stepping in throughout minor pullbacks. The hourly quantity profile signifies sustained shopping for curiosity regardless of earlier volatility.

The transfer comes because the CoinDesk 20 (an index of the highest 20 cryptocurrencies by market cap apart from stablecoins, alternate cash and memecoins) is down 0.8% within the final 24 hours.

Technical evaluation highlights

• TON skilled a 7.7% correction from $3.25 to $3.00 with peak quantity exceeding 10 million items through the sell-off.

• Strong assist established at the $3.00 psychological stage, making a high-volume demand zone.

• Recovery of 5.6% over 18 hours introduced the token’s worth again to $3.17.

• Temporary resistance ranges at $3.11 and $3.15 briefly slowed momentum.

• Recent 2.5% surge from $3.14 to $3.17 within the final hour.

• Significant quantity spike broke by way of key resistance at $3.15.

• Support zone fashioned at $3.16-$3.18 with constant purchaser curiosity throughout pullbacks.

• Profit-taking was noticed at $3.17, adopted by a better low at $3.16, indicating continued bullish construction.

Disclaimer: Parts of this text have been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Policy.