Toncoin Gains 3% Despite 7.59% Volatility

Toncoin (TON) demonstrated resilience amidst market volatility, closing the session with a 3% gain. The cryptocurrency experienced significant price fluctuations, with a total swing of 7.59% throughout the day. Despite this volatility, TON exhibited strong buying pressure at the $2.75 support level, which helped to establish a new floor for the coin. This buying volume indicates that investors are confident in TON's potential and are willing to accumulate the coin at lower price points. The establishment of this new support level suggests that TON may have found a stable price range, which could pave the way for further gains in the future.

Following a period of volatility where prices swung between $2.72 and $2.93, strong buying emerged for toncoin at lower levels. The coin is up 3% in the last 24 hours, underperforming the CoinDesk 20 index, which has risen 5.5% in the same period. The index is a measure of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins.

Technical analysis reveals that TON's price experienced a 7.59% swing between $2.72 low and $2.93 high over 24 hours. Strong buying emerged with above-average volume, establishing support around $2.75. A steady uptrend formed with a peak of $2.93 before consolidation in the $2.89-$2.91 range. Higher lows throughout the period indicate strengthening bullish momentum.

Resistance around $2.93 remains a key level for a potential breakout. A small price correction, declining 0.27% from $2.91 to $2.90, was followed by significant downward volatility, reaching a session low of $2.89. A sharp recovery with above-average volume pushed prices above $2.91 briefly. The final 15 minutes showed consolidation between $2.90-$2.90, establishing new short-term support. The $2.90 level is emerging as a key psychological support area.

Investors will be closely monitoring TON's price action in the coming days to see if it can build on this momentum and continue to climb higher. The establishment of a new support level at $2.75 and the emergence of $2.90 as a psychological support area provide a solid foundation for potential future gains. The resilience shown by TON in the face of market volatility is a positive sign for investors, indicating that the coin has the potential to weather market storms and continue to grow.