reversed earlier gains over the past 24 hours, falling 2.37% to $2.0219 on Wednesday morning in the US despite fresh signs of rising interest.
The decline followed a brief rally ahead of the opening of US public markets, with TON climbing to a high of $2.1165 on increased volume and renewed market optimism, according to CoinDesk Research’s technical analysis data model.
But the market reaction did not last. After the initial push higher, heavy selling erased earlier gains, pulling TON back towards key support levels around $2.02. Volume increased as price reversed, suggesting large traders took profits near resistance, while short-term holders followed suit.
The $2.02 mark now acts as a key line of defense. If that support holds, bulls could regroup around the $2.12 resistance area. If it breaks, the recent rally could give way to a broader pullback.
Volatility and trading volume remain high, indicating continued interest but also lingering uncertainty as TON reacts to competing signals from long-term owners and tactical sellers.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
