What You Should Know
- The TON cryptocurrency saw a remarkable increase in its price, jumping from approximately $3.00 to $3.27, with a 24-hour trading range of 9.7%, according to CoinDesk Research.
- Nikola Plecas, formerly of Visa, has taken on the role of vice president of payments at the TON Foundation, tasked with shaping its payment infrastructure strategy.
- Trump Media and Technology Group recently announced a $2.5 billion capital raise to purchase Bitcoin, which could create a favorable atmosphere for altcoins like TON.
Price Behavior
During peak trading times, TON experienced an exceptional trading volume — around 10 times the period’s average. Strong support levels were noted at $2.97-$2.98, while new resistance was set at $3.27.
The most intense activity occurred within just two minutes, as TON soared from $3.18 to $3.29, with volume surpassing 2.1 million in a single minute, showcasing strong buying momentum despite some profit-taking at the close.
Key Technical Analysis Insights
- The price remained stable between $2.97 and $3.04 before a breakout.
- Support consistently tested at $2.97-$2.98.
- Resistance established at $3.27 indicates possible continued upward trends.
- Significant volume spikes of 19.7 million and 15.4 million were observed in consecutive hours, marking about 10 times the average volume.
- An ascending channel pattern formed on the hourly chart with higher lows.
- The most significant trading action occurred between 10:53 and 10:55, with volume hitting over 2.1 million.
- Some profit-taking occurred as the price retraced back to $3.27.
For more details, check the external reference: Cointelegraph (published May 28, 2025).
