TON Rises 4.1%, Suggesting Further Upside Potential

The Open Network (TON) cryptocurrency has demonstrated strong momentum, rising 4.1% in the last 24 hours, according to CoinDesk Research’s technical analysis model. The price action formed a clear uptrend with higher lows and higher highs, breaking through key short-term resistance levels on high trading volume before consolidating near $3.35.

The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins and stablecoins — is up 3.7% in the same period of time.

Technical Analysis

• TON climbed from $3.20 to a peak of $3.39, representing a 6.03% increase.

• Price formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout.

• Trading volume spiked to 5.77M during the breakout, significantly above the 24-hour average.

• Strong support established at $3.27, confirmed by multiple bounces with above-average volume.

• Resistance at $3.33 was decisively broken on high volume, suggesting further upside potential.

• Recent consolidation near $3.35 after the rally indicates profit-taking but maintains most gains.

• In the last hour, TON experienced volatility with a 1.24% correction from $3.38 to $3.34.

• Support emerged around $3.33, tested multiple times with decreasing volume.

• Final trading period showed signs of consolidation between $3.34-$3.35, though with diminishing volume.

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