reversed earlier gains over the past 24 hours, falling 2.37% to $2.0219 on Wednesday morning in the United States, despite further signs of growing interest.
The slowdown follows a brief rally before the U.S. public markets opened, during which TON climbed to a high of $2.1165 on increased volume and renewed market optimism, according to CoinDesk Research’s technical analysis data model.
But the market reaction did not hold. After the initial surge higher, the sell-off erased earlier gains, taking TON back towards key support levels around $2.02. Volume surged as the price reversed, suggesting that large traders took profits near resistance while short-term holders followed.
The $2.02 mark now serves as a key line of defense. If this support holds, the bulls could cluster around the $2.12 resistance zone. If it breaks down, the recent rally could give way to a broader pullback.
Volatility and trading volume remain high, reflecting continued interest, but also continued uncertainty, as TON reacts to competing signals from long-term holders and tactical sellers.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
