Sell-Off Sends TON Lower as Trading Volume Spikes, Raising Bear Market Concerns

TON Struggles at $3.25 Support as Selling Pressure Mounts

Telegram’s Toncoin (TON) is grappling with intensified selling pressure after a sharp move lower triggered a wave of high-volume trading, raising concerns about a potential bearish continuation.

TON dropped from $3.33 to $3.26 in the past 24 hours, a 2% slide that coincided with a sudden surge in volume — over 8.2 million tokens were traded in a single hour, nearly three times the daily average, according to CoinDesk Research’s technical model.

Despite broader market strength — the CoinDesk 20 index climbed 2.5% — TON underperformed, struggling to hold a key support level at $3.25.

Technical Breakdown

Intraday Range: TON fell within a narrow band before sliding to $3.25, where it briefly stabilized.
Volume Spike: A surge in hourly volume intensified downward momentum, suggesting heavy liquidation or profit-taking.
Support Holding (For Now): Buyers are attempting to defend the $3.22–$3.25 region, which now acts as critical support.
Bearish Indicators: A declining 4-hour moving average reinforces near-term downside risk.
Reversal Attempt: A modest rebound from $3.25 to $3.26 hints at a possible short-term reversal — but confirmation is lacking.
Key Resistance: Price faces pressure at $3.28–$3.35, where previous sell orders concentrated.

Unless TON can reclaim higher levels with conviction, its recent price structure suggests further weakness could lie ahead.