TON Faces Continued Sell Pressure Despite Signs of Near-Term Support

Telegram’s native token, Toncoin (TON), is under renewed downward pressure, despite early indications of a potential short-term support base forming, according to CoinDesk Research’s technical model.

TON dropped 4.67% intraday to a low of $3.15, driven by heavy volume of 3.65 million, highlighting intense selling activity. While the token has shown modest rebound attempts, it remains in a fragile position, with new resistance forming at $3.24.

Over the past 24 hours, TON has declined by 3%, in line with broader market weakness. The CoinDesk 20 Index, which excludes stablecoins, memecoins, and exchange tokens, fell 3.2% during the same period.

Technical Breakdown

• Support Zone: TON found critical support between $3.15–$3.16, with above-average volume confirming buyer interest at those levels.
• Resistance Levels: The $3.24 mark has emerged as a clear resistance point, with sellers capping upward momentum.
• Bearish Structure: Price action continues to form lower highs, signaling a persistent downtrend despite intermittent recoveries.
• Short-Term Bounce: A brief upward move from $3.19 to $3.20 (+0.4%) was observed in the final trading hour, though follow-through has been limited.
• Volatility Spike: A sharp dip to $3.18 was quickly met with buying, lifting the price back toward $3.21, before profit-taking returned the token to the $3.20 range, where it is currently consolidating.

While TON shows early signs of stabilization, bulls have yet to regain control of the trend. Analysts suggest further confirmation is needed before a sustained recovery can be expected.