TON Extends Slide, Drops More Than Broader Crypto Market

TON’s price slipped 3.4% over the past 24 hours, falling to $1.5567 and widening its performance gap with broader crypto markets.

The broader market, as measured via the CoinDesk 20 (CD20) index, fell 1.8% in the same period. TON's retreat points to continued selling pressure specific to the token.

The token staged a few brief recoveries, but ultimately extended its sequence of lower highs. This consistent downward movement suggests sellers are staying active even as market conditions improve elsewhere.

The trading range spanned from a high of $1.6144 to a low of $1.5449, a nearly 4.3% swing, highlighting the volatility behind the decline according to CoinDesk Research's technical analysis data model.

Volume topped 640,000 tokens, with spikes during both sell-offs and rebounds running above the daily average. This activity level indicates traders are repositioning, though not necessarily committing in one direction. It's a sign of uncertainty, with market participants active but cautious.

Technical signs remain mixed. The token found some support near $1.5449 and bounced toward $1.58 before slipping again, suggesting buyers stepped in briefly before the selling resumed. These patterns hint at possible interest from major market participants, but without sustained follow-through, TON continues to lag.

The drop adds to a broader pattern of underperformance. For now, traders are watching for signs of stabilization or deeper rotation away from the asset.

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.