Toncoin Falls Below $2 as Broader Market Conditions Weigh on Price

TON$1.9253 fell sharply over the last 24-hour period, breaking below the key $2 level amid a broader crypto market fall that saw the CoinDesk 20 index (CD20) retreat 2.57%.

The symbol down 5.5% to $1.97with volume rising 89% above daily averages.

Traders pushed TON through multiple support zones before finding a foothold near $1.92, according to CoinDesk Research’s technical analysis data model.

The price action came during a broader fall in the crypto markets. Bitcoin BTC$102,333.61 fell below $102,800, its lowest level since June, as more than $1.4 billion in long positions were liquidated across the market, according to CoinGlassintensifying the downward pressure.

The fall triggered a spike in intraday volatility, with the price swinging through an 11.8% range.

TON later showed signs of stabilization with the price returning towards $1.99 on high volume. This V-shaped recovery, while modest, suggests that interest may still be intact, although the token has since dropped to $1.97.

Traders are now watching the $2 level closely. A sustained move back above that line could change the momentum, but pressure remains high with scrutiny on major TON holders.

Disclaimer: Parts of this article were generated with the assistance of 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.