PressurePrice action and volume trends suggest critical levels for short-term traders
Toncoin Faces Crucial Support After Recent Decline
Toncoin (TON) has dropped to a significant support level at $2.07, following a brief attempt to climb to $2.16, where the token encountered strong resistance. The price movement comes amid high trading volumes, indicating that market participants are actively defending supply zones, while buyers hesitate to push momentum higher.
Technical analysts note that Toncoin’s downward trajectory reflects a continuation of the broader bearish trend observed since mid-2025, with repeated Break of Structure (BOS) events and Change of Character (ChoCH) signals highlighting weakness in demand at higher levels.
Key Resistance Levels and Market Behavior
The chart shows several critical resistance zones ranging from $2.20 to $3.40, with a long-term descending trendline acting as an additional ceiling for upward moves. Analysts point out that strong trading volume at $2.16 confirms that sellers dominate this zone, creating a short-term barrier to recovery.
“Toncoin is currently testing a pivotal support area,” said BitXJournal blockchain market strategist. “If $2.07 holds, we could see a short-term rebound, but failure to defend this level may trigger further downside toward $1.85.”
Trading Patterns Signal Caution
The repeated BOS and Equal Low (EQL) formations visible on the daily chart suggest persistent selling pressure, with buyers only managing minor corrections. Observers emphasize that market participants should monitor volume spikes closely, as they often precede significant price swings or breakouts.
Additionally, resistance levels near $2.40 and $2.70 represent potential targets for buyers if a reversal occurs, but the overall bearish bias remains intact unless Toncoin convincingly breaches these zones with strong volume.
For traders, the $2.07 level is a critical decision point. Maintaining this support could enable short-term accumulation, while a breakdown might accelerate declines and test lower support near $1.85.
“Toncoin’s current setup highlights the importance of disciplined risk management,” noted BitXJournal on-chain analyst. “Investors should carefully watch for confirmation signals before entering positions, as volatility remains high.”
Toncoin’s price action around the $2.07 support zone reflects broader market dynamics, emphasizing the need for traders to assess both volume and structural signals before making decisions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.