Share this article
TON Slides as Sell-Off Triggers Spike in Volume With Potential Bearish Pressure Signal
Telegram’s token faces a critical short-term support test amid a technical breakdown.
Updated Jun 11, 2025, 3:34 p.m. Published Jun 11, 2025, 3:28 p.m.
What to know:
- TON, the cryptocurrency linked to Telegram, experienced a bearish-to-bullish reversal pattern, stabilizing at $3.25 after a significant selloff.
- The CoinDesk 20 index increased by 2.5% in the last 24 hours.
- Key support for TON has been identified at $3.25, with resistance at $3.28, amid high trading volumes.
TON, the Telegram-linked cryptocurrency, saw a short-term bearish-to-bullish reversal pattern in recent trading, finding key support at $3.25 after significant selling pressure triggered a volume spike of over 152K in a single hour, according to CoinDesk Research's technical analysis model.
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — is up 2.5% in the last 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Technical Analysis
• Price declined from $3.33 to $3.26, representing a 2% decrease over 24 hours.
• Significant volume-driven selloff saw price drop sharply to $3.26 on 8.23 million volume — nearly triple the 24-hour average.
• Key support emerged at $3.22-$3.22, with high-volume resistance at $3.34-$3.35.
• The 4-hour moving average continues to trend downward, indicating potential further weakness.
• Bearish-to-bullish reversal pattern observed in the last hour with price dropping to $3.25 before recovering to $3.26.
• The $3.25-$3.25 zone has established itself as a potential key short-term support level.
• Resistance remains at $3.28-$3.28 where selling pressure intensified earlier.
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.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
Top Stories
