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TON Surges 3.7% in V-Shaped Recovery After Finding Strong Support at $3.11
The Open Network's native token demonstrates resilience amid global economic tensions with bullish technical indicators pointing to continued upward momentum.
Jun 2, 2025, 3:04 p.m.
What to know:
- TON cryptocurrency demonstrated V-shaped recovery after significant correction, finding strong support at $3.11 level with increasing buying momentum.
- Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements.
Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements.
The cryptocurrency market continues to navigate choppy waters amid escalating global economic uncertainties. TON, the native token of The Open Network, has shown remarkable resilience despite broader market pressures, recovering from a recent correction to establish support above the $3.10 level. This recovery comes as a symmetrical triangle pattern suggests potential for a 40% price movement in either direction, with current indicators leaning toward bullish momentum.
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Technical Analysis
• TON-USD demonstrated remarkable volatility over the 24-hour period, establishing a trading range of 0.117 (3.7%).
• Price action formed a clear V-shaped recovery pattern after reaching a peak of $3.21 before correcting to $3.10.
• Strong volume support emerged at the $3.11 level where buying pressure appeared across multiple hourly candles.
• Recovery phase showed increasing momentum with higher lows forming a clear uptrend channel.
• Price reclaimed the $3.15 level with decreasing volume suggesting consolidation.
• In the last hour, TON-USD surged from $3.12 to $3.15, representing a 1.8% gain.
• A decisive breakout occurred when price penetrated the $3.14 resistance level with strong volume confirmation.
• Technical structure, combined with decreasing selling pressure in the final minutes, suggests potential continuation of the uptrend if the newly established support at $3.15 holds.
AI 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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