Peter Smith
⬤ TON extended its pullback toward the $1.74 level, dropping 2.35% in the latest session as selling pressure continued. The token is now testing its recent low of $1.738, with some market observers noting that these prices could look appealing in retrospect by next year. The ongoing decline has sparked discussion about whether TON is nearing a potential accumulation zone.
⬤ The Binance chart shows TON trading below all major moving averages, creating a clearly bearish structure. The price sits beneath the MA7 at $1.895, MA25 at $2.073, and MA99 at $2.703 after retreating from the $2.362 region. Volume remains solid at over 6.5 million TON, showing continued market participation despite the downtrend. The 24-hour range of $1.738 to $1.855 indicates tightening consolidation as the token tests fresh support.
⬤ Market commentary suggests TON may be undervalued at current levels, though the technical picture remains bearish with shorter-term moving averages continuing to trend lower. Recent price action sits below previous consolidation zones, reflecting cautious sentiment. Combined TON and USDT volume exceeded 22 million over the past day, maintaining steady trading activity.
⬤ TON is now trading near multi-day lows that could influence market sentiment going forward. How the price behaves around these levels will likely determine whether we see stabilization or further weakness. The interplay between spot price, trend structure, and volume will be key factors shaping TON's next move in the broader crypto market.
Peter Smith
