Toncoin
Experiencing increased volatility in the midst of wider market turbulence, with significant sales pressure breaking through the $ 2.92 support level in peak times, according to Coindesk Research’s technical analysis model.
Despite the sharp decline, buyers have emerged near the $ 2.87 level, which forms what seems to be a potential stabilization zone. Cryptocurrency’s recent price action shows a clear resistance zone around $ 2.99, with several failed attempts to break this threshold that suggests continued Bearish Momentum in the short term.
The token has dropped 3.1% over the past 24 hours, while Coindesk 20 Coindesk 20 – an index of the top 20 cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – lost only 1.7%.
Technical analysis
• The most pronounced sales pressure occurred with a large volume (7.07 m) that broke through the $ 2.92 support level.
• A notable resistance zone formed about $ 2.99 with several failed attempts to break this threshold.
• Current price action suggests potential stabilization that is formed near the $ 2.87 level with moderate purchase interest that emerges after the fall.
• The total price action indicates Bearish Momentum with increased volatility, suggesting that the traders should monitor the $ 2.85 support level closely.
• Price formed a clear V-shaped reversing pattern with a significant bottom of $ 2.85.
• $ 2,880- $ 2,900 zone remains a critical resistance area to monitor for continuing uptrend.
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.
