TON fell sharply over the last 24 hours, breaking below the key $2.00 level amid a broader crypto market downturn that saw the CoinDesk 20 (CD20) index retreat by 2.57%. The token dropped 5.5% to $1.97, with trading volume surging 89% above daily averages.
Traders pushed TON through several support zones before it found footing near $1.92, according to CoinDesk Research’s technical analysis data. The price action came during a broad slump in crypto markets.
Bitcoin (BTC) also declined, dropping to $101,825.28 and falling below the $102,800 mark—its lowest level since June. More than $1.4 billion in long positions were liquidated across the market, according to CoinGlass, intensifying downward price pressure. The drop triggered a spike in intraday volatility, with prices swinging across an 11.8% range.
Despite the downturn, TON subsequently showed signs of stabilizing as the price rebounded toward $1.99 on elevated volume. This modest V-shaped recovery suggests that investor interest may still be present, although the token has since retreated again to $1.97.
Traders are closely watching the $2.00 level. A sustained move back above this line could shift momentum in favor of bulls, but selling pressure remains high—especially as market watchers scrutinize major TON holders for possible moves.
https://bitcoinethereumnews.com/tech/toncoin-falls-below-2-as-broader-market-conditions-weigh-on-price/
