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TON Surges 3%, Outperforming Declining CoinDesk 20
Telegram's native token is showing strength on lower timeframes amid broader market volatility, establishing new technical resistance levels.
Updated Jun 5, 2025, 2:56 p.m. Published Jun 5, 2025, 2:47 p.m.
What to know:
- Toncoin (TON) rallied 3%, with support holding at the $3.17-$3.18 zone.
- Trading volume for TON surged to over 6.6 million, nearly triple the 24-hour average, establishing resistance at $3.25.
- The CoinDesk 20 index fell 1.7% in the last 24 hours, contrasting with TON's performance.
Toncoin demonstrated short-term strength with a 3% rally, according to CoinDesk Research's technical analysis model. The token's price action shows resilience despite late session volatility, with support holding at the $3.17-$3.18 zone after reaching a peak of $3.25.
In contrast, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — is down 1.7% in the last 24 hours.
STORY CONTINUES BELOW
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Technical Analysis
• TON has demonstrated strength over the 24-hour period, surging from $3.16 to a peak of $3.25, representing a range of 0.095 (3%).
• Extraordinary volume exceeding 6.6 million, nearly triple the 24-hour average, established strong volume-supported resistance at $3.25.
• Bullish momentum validated by consolidation above $3.22, with multiple tests of support at the $3.17-$3.18 zone showing resilience despite late session pullback.
• Significant volatility in the past hour with a sharp 1.01% decline from $3.25 to $3.22, forming a clear resistance level before encountering heavy selling pressure.
• Temporary bottom formed at 3.215 (13:56-13:57), followed by modest recovery establishing support at 3.222, suggesting potential consolidation.
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.
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