Telegram tokens soar before experiencing a drastic drop! How will it Proceed in June?

Jakarta, Pintu News – Telegram token (TON), recently experienced a significant increase of 2.7% in large trading volume before a sharp decline. This rise came after the token found critical support at the $3.20 level in the short term. Technical analysis from CoinDesk Research showed that TON-USD showed remarkable strength by rising from $3.156 to $3.24.

TON-USD Technical Analysis

Market Door

In a 24-hour period, TON-USD showed an impressive increase from $3.15 to a peak of $3.24, covering a range of $0.08 (2.66%). This price action established a clear uptrend by forming higher lows and higher peaks, culminating in a strong breakout with the period’s highest volume of 5.46 million.

The key support formed at $3.15-$3.16 proved strong during multiple tests, while the resistance at $3.20 was successfully broken on high volume, confirming the bullish momentum.

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Market Consolidation and Volatility

After peaking at $3.24, TON-USD consolidated near $3.20 indicating profit-taking but still retaining most of the gains, signaling the potential for a sustained upward movement if volume support persists.

However, in the past hour, TON-USD experienced significant volatility, initially continuing its upward momentum to reach a peak of $3.23, indicating a 0.5% gain. This bullish trend reversed sharply, with the price falling to $3.19, marking a 2.7% drop from the peak.

Support and Recovery Potential

The price drop was accompanied by high volume, indicating strong distribution. However, prices found support near $3.19 and made a modest recovery to close at $3.20, forming a potential double bottom pattern. This price action suggests profit-taking after the previous breakout, with the $3.19-$3.20 zone now a critical support level for a potential continuation of the broader uptrend.

Conclusion

With strong support and the potential to continue its uptrend, TON-USD shows that there is still room for growth despite the volatility. Investors and market watchers will continue to monitor this support zone to see if TON can maintain its momentum in the face of market fluctuations.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coindesk. TON Surges 27% on Massive Volume Before Sharp Reversal. Accessed on June 10, 2025
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