Why is TON Down Today? Price Drops 2.4% as Post-Rally Selling Pressure Caps Gains
Toncoin (TON) experienced a 2.4% decline over the last 24 hours, falling to $2.0219 despite initial momentum that saw it rise to $2.1165. The drop came after a period of increased trading volume, as large traders began to take profits, leading to heavy selling that erased earlier gains. As a result, the price retreated back to pivotal support levels around $2.02. This level is crucial for bulls who are looking to regroup above $2.12 if the support holds. However, if the support gives way, it may signal a broader downturn following the recent rally. Overall, volatility remains high, reflecting ongoing interest and uncertainty as the market reacts to signals from long-term holders and tactical sellers.
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