BTC
$105,402.11
–
0.60%
ETH
$2,650.49
+
1.18%
USDT
$1.0000
–
0.04%
XRP
$2.2415
–
0.47%
BNB
$667.95
+
0.29%
SOL
$156.82
–
2.77%
USDC
$0.9995
–
0.02%
DOGE
$0.1917
–
2.39%
TRX
$0.2733
+
0.82%
ADA
$0.6817
–
1.18%
HYPE
$36.87
+
0.17%
SUI
$3.2347
–
1.80%
LINK
$14.08
–
1.64%
AVAX
$20.97
–
2.24%
XLM
$0.2698
–
1.74%
LEO
$8.8797
+
1.10%
BCH
$407.51
+
0.18%
TON
$3.1612
–
1.44%
SHIB
$0.0₄1300
–
1.78%
HBAR
$0.1696
–
2.63%
By CD Analytics, Tom Carreras|Edited by Aoyon Ashraf
Jun 4, 2025, 4:12 p.m.
- TON-USD experienced significant downward pressure over the 24-hour period, declining from $3.21 to $3.16, representing a 1% drop.
Recent price action reveals TON’s struggle to maintain stability, with a failed breakout attempt at $3.22 followed by accelerated selling during peak trading hours, according to CoinDesk Research’s technical analysis model.
The move comes as the broader market gauge, CoinDesk20 Index, remained flat.
STORY CONTINUES BELOW
Technical indicators paint a potential bearish picture on the short-term timeframe as the formation of lower highs and lower lows suggests building bearish momentum.
The breakdown of the $3.16 support level, confirmed by high-volume selling, has opened the door to further potential downside as global economic tensions continue to reshape investor priorities across both traditional and cryptocurrency markets.
Technical analysis highlights
• Failed breakout attempt at the $3.22 resistance level, followed by consistent selling pressure.
• Accelerated selling with above-average volume.
• Notable support emerged at $3.16, where buyers previously stepped in with strong volume.
• Formation of lower highs and lower lows since the rejection at $3.22 suggests bearish momentum.
• A short-term double top pattern formed at the $3.18 level before breaking down.
• High volume selling pushed prices down to $3.16, confirming the breakdown of the $3.16 support level.
• 1.2% price swing within the hour demonstrates increasing market instability.
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.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
