Toncoin
Among Cryptocurrencies who saw significant award volatility in the midst of the tussle between President Trump and Elon Musk on the state of the US economy.
Ton Token saw a sharp correction 7.7% on June 5, according to Coindesk Research’s technical analysis model. After dropping from $ 3.25 to $ 3.00, the asset found “strong support” at the psychologically important $ 3.00 level, with high trading volume indicated significant buyer interest, showed the model.
The recent price action shows that tonnes form a potential support zone between $ 3,164- $ 3,168, where buyers consistently enter under minor withdrawals. The hourly volume profile indicates lasting purchase interest despite previous volatility.
The move comes as Coindesk 20 (an index for the top 20 cryptocurrencies with market hood except stablecoins, exchange coins and memcoins) is down 0.8% over the past 24 hours.
Technical analysis highlights
• Ton experienced a correction of 7.7% from $ 3.25 to $ 3.00 with tip volume exceeding 10 million units during the sale.
• Strong support established at $ 3.00 psychological level, creating a high -volume demand zone.
• Restore of 5.6% over 18 hours brought the tokens price back to $ 3.17.
• Temporary resistance levels of $ 3.11 and $ 3.15 slowed short momentum.
• Last 2.5% increase from $ 3.14 to $ 3.17 in the last hour.
• Significant volume spike broke through key resistance to $ 3.15.
• Support zone formed at $ 3.16- $ 3.18 with consistent buyer interest during retreats.
• Profit taging was observed at $ 3.17, followed by a higher low of $ 3.16, which indicates continued bullish structure.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
