Toncoin Slips 2.4% to $2.02 on Profit-Taking and High Volatility
Toncoin fell 2.4% to $2.02 as traders pocketed profits after a week-long downtrend. The token briefly rallied to $2.12—hitting resistance near $2.16—before reversing sharply on rising volume. Over 3.6 million TON changed hands at resistance levels, underscoring strong selling pressure. Failure to reclaim $2.10–$2.12 opened the way for a drop to the key support level at $2.02. A sustained breach below $2.02 could trigger a broader pullback, while a rebound above $2.12 would be needed to shift momentum. Elevated volatility and trading volume highlight intense market interest but signal uncertainty in longer-term positioning for crypto traders.
Bearish
Short-term selling pressure at resistance levels and a failure to reclaim key price points have driven Toncoin below critical support, indicating bearish momentum. Volume spikes at $2.12–$2.16 show strong profit-taking, suggesting traders lack conviction for a sustained rebound. Unless Toncoin breaks back above the $2.10–$2.12 resistance range on rising volume, the downtrend is likely to continue. Longer-term holders will be watching the $2.02 support; a decisive breach could trigger further declines, while holding this level may offer a base for a technical rebound.