Telegram’s token
dipped 8% in 24 hours, dropping from $3.20 to a low of $2.93 with significant selling pressure, according to CoinDesk research’s technical analysis model. TON was hit harder than other cryptocurrencies in the CoinDesk 20: the index (which includes the top 20 coins by market capitalization except for stablecoins, memecoins and stablecoins) is down 6.2% in the same period of time.
The selloff occurred after Israel struck Iranian facilities and military leadership late on Thursday night.
Technical Analysis
• TON experienced a significant 8.4% correction, dropping from $3.20 to a low of $2.93 over a 24-hour period.
• Above-average volume of 3.36 million established a strong resistance at the $3.09 level.
• A notable volume spike of 7.74 million created a high-volume support zone around $2.94.
• Price subsequently consolidated between $2.95-$2.99, with recent price action showing signs of stabilization.
• In the last hour, TON showed recovery, climbing from $2.95 to $2.96, representing a 0.3% gain.
• Strong buying interest emerged with 284,843 units traded, establishing support at $2.96.
• Minor pullbacks quickly found support, suggesting resilient buyer interest.
