TON fell 3.4% over the past 24 hours to $1.5567, extending its underperformance relative to the broader crypto market and signaling continued token-specific selling pressure.

By comparison, the CoinDesk 20 (CD20) index declined 1.8% over the same period. While the wider market showed signs of stabilization, TON continued to lag, suggesting sellers remain active in the token despite improving conditions elsewhere.

Price action was choppy, with several short-lived rebounds failing to gain traction. The token continued to post lower highs, reinforcing the prevailing downward trend and indicating persistent selling interest.

According to CoinDesk Research’s technical analysis data model, TON traded within a volatile range, hitting a high of $1.6144 and a low of $1.5449 — a swing of roughly 4.3%. Trading volume exceeded 640,000 tokens, with bursts of activity during both selloffs and attempted recoveries coming in above the daily average.

The elevated volume points to trader repositioning rather than decisive accumulation or capitulation. Market participants appear active but cautious, reflecting uncertainty around near-term direction.

Technical signals remain mixed. TON found short-term support near $1.5449 and briefly rebounded toward $1.58 before slipping again, suggesting buyers stepped in selectively but lacked conviction. Until follow-through buying emerges, the token is likely to remain under pressure.

The latest decline adds to a broader pattern of underperformance, leaving traders focused on whether TON can stabilize or continues to see capital rotate away from the asset.