Toncoin Rebounds as Buyers Defend Key $3.00 Support Amid Volatile Market
Toncoin (TON) experienced a sharp price correction this week but quickly regained ground as buyers stepped in at a critical support level, signaling strong demand amid broader market uncertainty tied to tensions between President Trump and Elon Musk over the U.S. economy.
According to CoinDesk Research’s technical model, TON fell 7.7% on June 5, dropping from $3.25 to $3.00, before finding solid support at the psychologically significant $3.00 level. A notable spike in trading volume—exceeding 10 million units—during the decline confirmed aggressive buying activity.
The token has since rebounded, climbing 5.6% within 18 hours to reach $3.17, with recent hourly gains breaking through temporary resistance at $3.11 and $3.15. A subsequent 2.5% surge from $3.14 to $3.17 occurred on strong volume, reinforcing the bullish momentum.
Technical Analysis Summary:
- Initial Correction: 7.7% drop from $3.25 to $3.00
- Volume Spike: Over 10M units traded at the $3.00 support zone
- Recovery: Price rebounded 5.6% to $3.17 within 18 hours
- Resistance Levels: Brief slowdowns at $3.11 and $3.15
- Breakout: Price surged 2.5% from $3.14 to $3.17 in the last hour
- New Support Zone: $3.16–$3.18 formed on consistent buyer interest
- Bullish Signal: Profit-taking at $3.17 followed by a higher low at $3.16
Despite broader weakness in the crypto market—reflected by a 0.8% drop in the CoinDesk 20 Index over the past 24 hours—TON’s strong rebound and elevated volume profile suggest underlying investor confidence.
The sustained buying during dips, paired with a tightening price structure and higher lows, may indicate continued bullish potential—provided support holds above the $3.16 level.
