TON Struggles Against $3.24 Resistance Level, Settles at $3.18

The cryptocurrency market is experiencing heightened volatility amid escalating global economic tensions, with Telegram-linked token TON consolidating after reaching key resistance levels. Recent price action shows TON-USD struggling to establish momentum above the $3.24 resistance zone, where significant selling pressure emerged with above-average trading volumes. Even so, TON has broken out of a descending channel, potentially signaling an end to its months-long downtrend, with key resistance now at the $4.23-$4.26 range. Technical Analysis • TON exhibited a trading range of 0.065 USD (2.05%) over the 24-hour period. • Significant selling pressure emerged at the $3.24-$3.25 zone. • Price initially showed strength, reaching a peak of $3.21 before encountering a sharp sell-off. • Selling intensified with volume surpassing 150,000 units. • TON settled at $3.18 with diminishing volume, suggesting temporary exhaustion of selling pressure.

Source: CoinDesk