Toncoin (TON) has been among the cryptocurrencies experiencing significant price shifts due to recent economic commentary from President Trump and Elon Musk. On June 5th, TON saw a sharp correction of 7.7%, plunging from $3.25 to $3.00. However, it found solid support at the $3.00 level, where high trading volume suggested that many buyers were willing to step in. Current analyses reveal that TON is forming a potential support zone between $3.164 and $3.168, with buyers consistently ready to purchase during minor price declines.
Technical models indicate that during this sell-off, the trading volume peaked at over 10 million units, which has contributed to establishing a high-volume demand zone at the $3.00 mark. Following this correction, the token's value climbed back to $3.17, marking a recovery of 5.6% over a span of 18 hours. Temporary resistance has been noted at $3.11 and $3.15 but was briefly overcome with a recent 2.5% surge from $3.14 to $3.17. This shows a significant volume spike breaking through key resistance at $3.15, and the support zone is now identified around $3.16 to $3.18 as buyer interest remains steady during pullbacks. Profit-taking occurred at $3.17, yet the price remained resilient, indicating a potentially bullish trend.
Technical models indicate that during this sell-off, the trading volume peaked at over 10 million units, which has contributed to establishing a high-volume demand zone at the $3.00 mark. Following this correction, the token's value climbed back to $3.17, marking a recovery of 5.6% over a span of 18 hours. Temporary resistance has been noted at $3.11 and $3.15 but was briefly overcome with a recent 2.5% surge from $3.14 to $3.17. This shows a significant volume spike breaking through key resistance at $3.15, and the support zone is now identified around $3.16 to $3.18 as buyer interest remains steady during pullbacks. Profit-taking occurred at $3.17, yet the price remained resilient, indicating a potentially bullish trend.
