TON is consolidating below resistance at $1.65, with support forming near $1.59, as traders watch for a breakout above $1.70 to regain bullish momentum.
The token fell 3.3% over the past 24 hours to $1.596, tracking broader crypto market weakness. Earlier, TON reached $1.6929 before losing ground and finding support around $1.5930, according to CoinDesk Research’s technical analysis.
Trading volume has surged roughly 20% above the seven-day average, often signaling institutional accumulation. Yet, price action has lagged, with repeated attempts to surpass $1.65 failing, suggesting patient buying rather than retail-driven momentum.
Telegram, which relies on the TON ecosystem for its Web3 infrastructure, officially launched its crypto wallet in Uzbekistan. Following regulatory approval, local users can now buy and trade crypto via bank cards. While this expands TON’s footprint in Central Asia, it may not immediately boost demand for the token.
Technically, a sustained move above $1.70 could reignite upward momentum, while a drop below current support may target $1.55.
For now, TON’s fundamentals — rising on-chain revenue and wallet adoption — are counterbalancing short-term market pressures and broader uncertainty in the crypto sector.
