Toncoin (TON) is showing signs of strength after facing intense market volatility. Following a significant pullback, the token found solid buyer interest at a key psychological level, pointing to a potentially bullish structure ahead.
Sharp 7.7% Correction Followed by Swift Recovery
On June 5, TON experienced a steep 7.7% correction, dropping from $3.25 to $3.00, according to technical indicators. This sell-off was accompanied by a surge in trading volume exceeding 10 million units, indicating panic selling but also strong liquidity.
Buyers stepped in at the $3.00 level, establishing a strong support zone and reversing the bearish momentum.
In the following 18 hours, TON recovered 5.6%, rising back to $3.17. A further 2.5% intraday surge from $3.14 to $3.17 reinforced the bullish recovery and broke through key resistance at $3.15.
Technical Analysis Points to Bullish Structure
Recent trading patterns show Toncoin building a support range between $3.164 and $3.168, with consistent buying pressure during small price pullbacks. The hourly volume profile indicates a strong presence of buyers even in moments of broader market weakness.
Key technical observations:
- Strong demand zone formed at the $3.00 psychological level.
- Temporary resistance was seen at $3.11 and $3.15, but momentum broke through these levels.
- Profit-taking occurred at $3.17, but the token formed a higher low at $3.16, maintaining a bullish trend.
The creation of higher lows after resistance breakouts signals continued bullish sentiment.
Volatility Driven by Broader Market Sentiment
Toncoin’s price action occurred alongside heightened volatility across the crypto market, largely influenced by political tensions between President Trump and Elon Musk regarding the U.S. economy. As these macroeconomic factors ripple through financial markets, digital assets like TON are experiencing amplified price reactions.
Despite the broader CoinDesk 20 Index falling 0.8% in the last 24 hours, TON has outperformed with a stable recovery.
Conclusion
Toncoin’s recent rebound from the $3.00 support level highlights growing investor confidence and the asset’s ability to withstand broader market swings. With rising volume, higher lows, and sustained buyer interest, TON is maintaining a bullish structure that could lead to further upside if momentum holds.
