Toncoin (TON) Shows Strength with 3.7% Rally Despite Market Turbulence
The Open Network’s native token Toncoin (TON) has demonstrated notable resilience, rebounding 3.7% from its $3.11 support level in a classic V-shaped recovery. This upward movement comes amid broader market volatility driven by geopolitical tensions and trade disputes affecting both crypto and traditional finance sectors.
Technical analysis indicates potential for a 40% price swing as TON/USD forms higher lows within an ascending channel. The token’s strong reclaiming of $3.15 - including a decisive 1.8% hourly surge - signals growing bullish momentum. Market microstructure reveals key details: effective absorption of selling pressure at $3.11, declining volume during consolidation phases, and a high-volume breakout through the $3.14 resistance level.
