Toncoin Drops 2.4% as Post-Rally Selling Pressure Caps Gains

TON$1.9952 reversed earlier gains over the last 24 hours, falling 2.37% to $2.0219 on Wednesday morning U.S. hours despite fresh signs of growing interest.

The downturn followed a brief rally ahead of the U.S. public markets opening, during which TON climbed to a high of $2.1165 on increased volume and renewed market optimism, according to CoinDesk Research’s technical analysis data model.

But the market reaction didn’t hold. After the initial push higher, heavy selling erased earlier gains, pulling TON back toward key support levels around $2.02. Volume surged as the price reversed, suggesting large traders took profits near resistance while short-term holders followed.

The $2.02 mark now serves as a key line of defense. If that support holds, bulls may regroup around the $2.12 resistance area. If it breaks, the recent rally may give way to a broader pullback.

Volatility and trading volume remain elevated, pointing to continued interest, but also ongoing uncertainty, as TON reacts to competing signals from long-term holders and tactical sellers.

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.