Toncoin (TON) Shows Volatility with Bearish Pressure and Potential Reversal Signals

Toncoin (TON), the cryptocurrency associated with Telegram, experienced significant price fluctuations as selling pressure drove a surge in trading volume. The asset briefly dropped to $3.25 before displaying signs of a potential bearish-to-bullish reversal, with over 152,000 TON traded within an hour.

Key support was established near $3.22, while resistance held firm between $3.34 and $3.35. The 4-hour moving average continues to trend downward, indicating possible further weakness. Despite the sell-off, the broader CoinDesk 20 index rose by 2.5%, highlighting divergent performance across the crypto market.

Traders are closely monitoring the $3.25 level as a critical inflection point. Recent price action formed a notable reversal pattern, with TON rebounding from its intraday low of $3.25 to trade at $3.26 at the time of reporting.