Why is TON Down Today?

Toncoin (TON) experienced a 2.4% decline to $2.0219 over the last 24 hours, reversing gains made earlier in the day despite indications of increased interest. The token briefly peaked at $2.1165 due to heightened trading volume and market optimism, but subsequent heavy selling pressure eliminated those gains and pulled the price back to critical support levels around $2.02. This $2.02 mark now represents a crucial line of defense; should it hold, bulls might regroup targeting the $2.12 resistance. Alternatively, if the price breaks this support, a broader downturn could ensue. The elevated volatility and trading volume indicate ongoing interest alongside uncertainty in the market, highlighting a battle between long-term holders and tactical sellers.

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