Despite Rebound Efforts, TON Faces Renewed Downward Pressure

TON Struggles to Rebound as Selling Pressure Weighs on Short-Term Outlook

Toncoin (TON), the native asset of the Telegram-linked blockchain network, continues to face headwinds as bearish momentum overrides recovery attempts, according to CoinDesk Research’s latest technical assessment.

On Wednesday, TON dropped as much as 4.67% intraday, hitting a session low of $3.15 amid heavy trading volume exceeding 3.65 million tokens. Although the token staged a minor rebound late in the day, the emergence of resistance around $3.24 suggests that upward momentum remains limited.

TON is down 3% over the past 24 hours, broadly in line with the CoinDesk 20 Index, which shed 3.2% as risk sentiment cooled across major digital assets.

Key Price Action Highlights:

Support Emerges: The zone around $3.15–$3.16 has acted as a near-term floor, with strong volume reinforcing the area as short-term support.
Bearish Continuation: Despite a rebound to $3.20, the price structure remains fragile, defined by a series of lower highs.
Resistance Levels: Sellers have repeatedly capped upside attempts at $3.21–$3.24, stalling recovery momentum.
Mini Bounce: A brief lift from $3.19 to $3.20 marked a modest 0.4% gain, but was quickly followed by consolidation.
Volatility Remains High: Quick sell-offs and rebounds suggest TON is trading within a tight, volatile range as buyers and sellers jockey for control.

While some traders view the current structure as a potential base, the market has yet to show convincing strength. TON may need clearer bullish confirmation or external catalysts — such as network upgrades or ecosystem growth — to reverse the prevailing downtrend.