TON Surges 3.7% in V-Shaped Recovery After Finding Strong Support at $3.11
Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements.
The cryptocurrency market continues to navigate choppy waters amid escalating global economic uncertainties. TON, the native token of The Open Network, has shown remarkable resilience despite broader market pressures, recovering from a recent correction to establish support above the $3.10 level. This recovery comes as a symmetrical triangle pattern suggests potential for a 40% price movement in either direction, with current indicators leaning toward bullish momentum.
Technical Analysis
• TON-USD demonstrated remarkable volatility over the 24-hour period, establishing a trading range of 0.117 (3.7%).
• Price action formed a clear V-shaped recovery pattern after reaching a peak of $3.21 before correcting to $3.10.
• Strong volume support emerged at the $3.11 level where buying pressure appeared across multiple hourly candles.
• Recovery phase showed increasing momentum with higher lows forming a clear uptrend channel.
• Price reclaimed the $3.15 level with decreasing volume suggesting consolidation.
• In the last hour, TON-USD surged from $3.12 to $3.15, representing a 1.8% gain.
• A decisive breakout occurred when price penetrated the $3.14 resistance level with strong volume confirmation.
• Technical structure, combined with decreasing selling pressure in the final minutes, suggests potential continuation of the uptrend if the newly established support at $3.15 holds.Sign in to access your portfolio
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 hours ago
- Yahoo
TON Breaks $3 Barrier Amid Surging Volume, Riding Telegram's Growth
The Telegram-native cryptocurrency TON has broken through the psychologically significant $3 barrier, demonstrating robust momentum with exceptional trading volume nearly triple the period average. This surge coincides with growing interest in Telegram's ecosystem as WhatsApp begins implementing advertisements, positioning TON as a beneficiary of the shift toward ad-free, crypto-integrated messaging platforms. Despite recent volatility, TON has established strong support levels while maintaining its upward trajectory, reflecting increased institutional participation and growing adoption of Telegram's blockchain infrastructure. Technical analysis Clear uptrend formation with higher lows and higher highs, breaking through key resistance at $2.97 on exceptional volume. Strong support established at $2.94, with new support level forming at $2.982 after recent volatility. High-volume trading during the 8:00 hour saw over 3 million in volume, nearly triple the period average, suggesting institutional accumulation. V-shaped recovery pattern formed during recent volatility with high volume spikes during both selloff (75,822 units) and recovery phases (92,561 units). Successful reclaiming of the $2.995 level after correction reinforces overall bullish momentum.
Yahoo
13 hours ago
- Yahoo
Circle stock extends stunning rally amid high hopes for crypto 'disruptor'
Circle (CRCL) stock's massive rally is showing no signs of cooling. The issuer of USDC stablecoins (USDC-USD) soared roughly 15% in morning trading on Friday, extending its stunning post IPO gains as Wall Street bets big on the crypto player. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," Seaport Research Partners analyst Jeff Cantwell wrote in a note on Friday. He said that the company would benefit from an improving regulatory climate in the US. "We think the overall stablecoin 'market cap' will reach $500B by the end of next year; longer-term, we think it ultimately can reach $2T," he added. Cantwell initiated Circle with a Buy rating and a price target of $235. Shares hovered near $228 each during Friday's rally. The stock is on track to close out the week up more than 65%. Shares are up more than 600% above their IPO price of $31. Circle surged on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, tokens backed by assets, such as the US dollar. "History is being made, as the US Senate passes the GENIUS Act, taking us one step closer to breakthrough legislation being signed into law that will drive US economic and national competitiveness for decades to come," Circle co-founder and CEO Jeremy Allaire said on X following the bill's passage. Read more about Circle's stock moves and today's market action. Circle issues the stablecoin USDC, which stands for USD coin and is backed by the dollar. The company makes most of its revenue from "reserve income," which is what it makes on cash backing its stablecoin that is held in banks or invested in Treasury bills. Momentum surrounding stablecoins also sent shares of trading platform Robinhood (HOOD) and crypto exchange platform Coinbase (COIN) higher in recent weeks. Coinbase holds a minority stake in Circle. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
16 hours ago
- Yahoo
Circle stock extends stunning rally amid high hopes for crypto 'disruptor'
Circle (CRCL) stock's massive rally is showing no signs of cooling. The issuer of USDC stablecoins (USDC-USD) soared roughly 15% in morning trading on Friday, extending its stunning post IPO gains as Wall Street bets big on the crypto player. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," Seaport Research Partners analyst Jeff Cantwell wrote in a note on Friday. He said that the company would benefit from an improving regulatory climate in the US. "We think the overall stablecoin 'market cap' will reach $500B by the end of next year; longer-term, we think it ultimately can reach $2T," he added. Cantwell initiated Circle with a Buy rating and a price target of $235. Shares hovered near $228 each during Friday's rally. The stock is on track to close out the week up more than 65%. Shares are up more than 600% above their IPO price of $31. Circle surged on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, tokens backed by assets, such as the US dollar. "History is being made, as the US Senate passes the GENIUS Act, taking us one step closer to breakthrough legislation being signed into law that will drive US economic and national competitiveness for decades to come," Circle co-founder and CEO Jeremy Allaire said on X following the bill's passage. Read more about Circle's stock moves and today's market action. Circle issues the stablecoin USDC, which stands for USD coin and is backed by the dollar. The company makes most of its revenue from "reserve income," which is what it makes on cash backing its stablecoin that is held in banks or invested in Treasury bills. Momentum surrounding stablecoins also sent shares of trading platform Robinhood (HOOD) and crypto exchange platform Coinbase (COIN) higher in recent weeks. Coinbase holds a minority stake in Circle. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
