Toncoin TON established strong support at $2.94-$2.96 before making a decisive move upward, demonstrating resilience even after a sharp pullback, according to CoinDesk research’s technical analysis model. The token is up 1.5% in the last 24 hours, underperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has risen 3.6%. Technical Analysis • Price formed a solid support zone at $2.94-$2.96 early in the period, followed by a decisive breakout above $3.00. • Significant above-average volume (1.87M and 1.54M) supported the initial breakout. • Despite a sharp pullback to $2.98 with the highest volume spike (2.97M), buyers quickly returned. • A strong consolidation pattern formed, establishing support at $2.985. • High volume (272,668 units) triggered the final breakout above $3.00. • New support zone established at $3.00-$3.01, confirming strength of the uptrend. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .
