TON Faces Bearish Pressure as Key Support Levels Break
Market volatility ticked higher on Tuesday as Toncoin (TON) slipped below critical short-term support, signaling potential downside continuation amid a backdrop of global economic uncertainty.
After failing to sustain a breakout above $3.22, TON reversed sharply, triggering a wave of high-volume selling during peak trading hours, according to CoinDesk Research’s technical model. The broader CoinDesk 20 Index held relatively flat, underscoring that TON’s weakness is more asset-specific than market-wide.
Technical Breakdown Highlights:
- Failed breakout at the $3.22 resistance level marked the start of a downward trend.
- High-volume selling confirmed the loss of momentum, especially during intraday peaks.
- The breakdown of $3.16, a previously defended support zone, confirmed bearish pressure.
- Lower highs and lower lows have formed since the rejection at $3.22, supporting the short-term bearish thesis.
- A double top near $3.18 preceded the breakdown, further validating downside risk.
- A 1.2% hourly price swing reflects heightened market instability and increased sensitivity to volume triggers.
With technical structures favoring sellers and macro tensions dampening risk appetite, traders are now watching the $3.10–$3.12 range for the next line of potential defense. A failure to hold that area could accelerate losses in the near term.
