Toncoin (TON) Faces Resistance at $3.30 as Traders Await Next Move

Toncoin's price pulled back after failing to maintain momentum above $3.60, marking its fifth rejection at this key resistance level. The cryptocurrency is currently trading around $3.14, with technical indicators showing increasing selling pressure despite staying above crucial moving averages. Upper wicks on 4-hour charts indicate strong profit-taking activity, cooling bullish enthusiasm.

24-hour trading volume skyrocketed 159% to $723.9 million, significantly outpacing most LAYER 1 competitors. This liquidity surge—reflected in an 8.88% volume-to-market cap ratio—demonstrates strong investor confidence. Network fundamentals remain solid with 152,000 wallet holders and 2.47 billion TON in circulation, supporting its $8.16 billion market cap.

Market participants are now watching whether U.S. wallet adoption can drive TON past the psychological $5 barrier. The upcoming trading sessions will reveal whether this is healthy consolidation before a breakout or the beginning of a deeper correction.