The price failed to hold gains above $2.14 during the last 24 hours, retreating to $2.127 after a rejection at a key resistance level.
The move capped a rally to $2.154 and underscored the importance of technical factors in the absence of fresh news, according to CoinDesk Research's technical analysis model.
Volume spiked to 3.03 million tokens in a single hour during the resistance test, an 89% jump over the session average, highlighting the intensity of the sell-off once the price neared the upper end of its recent range.
The failed breakout attempt came after a sharp push from $2.135 to $2.154, but profit-taking quickly erased those gains. TON now trades in a $0.15 band, with support forming at $2.10 and emerging demand near $2.133.
This compressed range suggests that market participants are waiting for a clear signal before committing to a direction. A strong move backed by volume could break the stalemate.
The latest price action reflects a broader pattern seen across crypto markets where technical levels appear to be defining ranges. The broader CoinDesk 20 (CD20) index rose 2.9% in the last 24 hours.
Bulls are watching for a sustained move above $2.144, which could open the door for a retest of $2.154 highs. Bears are eyeing a break below $2.133 to challenge support at $2.10.
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.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
