Overview

Toncoin has shown remarkable resilience following a recent price correction. After experiencing a drop of 7.7%, hitting $3.00, it managed to find robust support at this psychological level, indicating significant buyer interest. The recovery has seen the token rally 5.6% within just 18 hours, successfully breaking through critical resistance at $3.15.

Key Insights

• On June 5th, Toncoin’s price fell sharply from $3.25 to $3.00.
• This decline was followed by a strong support response, with high trading volumes suggesting increased buyer engagement.
• A potential support zone is emerging between $3.164 and $3.168, as buyers appear ready to act during smaller pullbacks.

Technical Analysis Highlights

• The 7.7% correction marked a peak trading volume of over 10 million units.
• Active buying has restored the token’s price toward $3.17.
• Despite some brief pauses in momentum at resistance levels of $3.11 and $3.15, buying signals continue to indicate bullish trends.

For ongoing updates and deeper insights into the cryptocurrency market, subscribe to CoinDesk’s newsletters.