Summary

Telegram’s cryptocurrency, TON, is facing notable selling pressure recently, despite attempts at recovery.

Key Points

• TON dropped 4.67% during the day, indicating significant selling activity.
• In the past 24 hours, it has declined by 3% with new resistance emerging at $3.24.
• There was a slight recovery from $3.19 to $3.20, marking a 0.4% gain.

Market Overview

According to CoinDesk Research’s technical model, TON has experienced a notable sell-off reaching lows around $3.15. Despite recent price actions suggesting tentative recovery, a resistance level has now formed at $3.24.

• The volume during this decline was 3.65 million, highlighting strong selling pressure.
• A critical support zone is confirmed between $3.15 and $3.16.
• The overall trend remains bearish, with lower highs being reported.

Disclaimer: Parts of this article were generated with AI assistance and subjected to human editorial review for maintaining standards of accuracy.