reversed earlier gains over the past 24 hours, falling 2.37% to $2.0219 on Wednesday morning in US hours despite fresh signs of growing interest.
The slowdown followed a brief rally before the US public markets opened, during which TON rose to a high of $2.1165 on higher volume and renewed market optimism, according to CoinDesk Research’s technical analysis data model.
But the market reaction did not hold. After the initial push higher, heavy selling erased earlier gains, bringing TON back to key support levels around $2.02. Volume increased as the price reversed, suggesting that large traders took profits near resistance, while short-term holders followed suit.
The $2.02 mark now serves as a key line of defense. If that support holds, the bulls may regroup around the $2.12 resistance area. If it breaks, the recent rally may give way to a broader pullback.
Volatility and trading volume remain high, indicating continued interest, but also continued uncertainty, as TON reacts to competitive signals from long-term holders and tactical sellers.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
