Toncoin (TON) is demonstrating bullish momentum on the short-term, with price action forming a solid uptrend pattern and significant volume support, according to CoinDesk Research’s technical analysis model. The token is up 1.5% in the last 24 hours.
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, exchange coins and memecoins — lost 0.4% over the same period.
Technical Analysis
• Higher lows established at $2.80, $2.81 and $2.83, confirming uptrend structure.
• Resistance breakthrough at $2.85 on exceptional volume.
• Strong support at $2.82 confirmed during multiple retests.
• A 0.71% gain to $2.86 with decisive breakout.
• Peak volume exceeded 69,000 units, confirming strong buying pressure.
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.
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The 2% uptick in TON's performance, coupled with the formation of a short-term upward trend pattern on its chart indicators suggests potential investor interests and positive market sentiment.
The 2% rise of the TON token represents a promising short-term uptrend pattern, suggesting potential investor interest and market stability.
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The recent 2% appreciation in TON suggests investors are gaining confidence with the emergence of a short-term uptrend pattern, potentially signaling further stability and growth for this digital asset.
