What to know:
- The Open Network (TON) cryptocurrency rose 4.1% in the last 24 hours, forming a clear uptrend with higher lows and highs.
- TON’s price peaked at $3.39 after breaking through resistance levels on high trading volume.
- Recent consolidation near $3.35 suggests profit-taking, but the uptrend remains intact with strong support at $3.27.
Based on data from CoinDesk Research’s technical analysis model, the digital currency of The Open Network (TON) has shown robust growth, increasing by 4.1% over the past 24 hours. This upward trend is evident as the price moves through successive higher lows and higher highs, breaking through significant short-term resistance points on a surge of trading activity. Following this breakthrough, the price has stabilized around $3.35.
Over the given timeframe, the CoinDesk 20 index (which lists the top 20 digital currencies based on market cap, but omits exchange tokens, joke coins, and stablecoins) has experienced a 3.7% increase.
Technical Analysis
• TON climbed from $3.20 to a peak of $3.39, representing a 6.03% increase.
Price exhibited a distinct upward trend characterized by successive higher bottoms and tops, leading to an impressive surge beyond its previous levels.
• Trading volume spiked to 5.77M during the breakout, significantly above the 24-hour average.
• Strong support established at $3.27, confirmed by multiple bounces with above-average volume.
• Resistance at $3.33 was decisively broken on high volume, suggesting further upside potential.
• Recent consolidation near $3.35 after the rally indicates profit-taking but maintains most gains.
• In the last hour, TON experienced volatility with a 1.24% correction from $3.38 to $3.34.
• Support emerged around $3.33, tested multiple times with decreasing volume.
During the last trading session, there were indications of a stabilization or gathering of forces between the prices of $3.34 and $3.35. However, the trading activity decreased significantly.
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2025-06-10 19:02