• bitcoinBitcoin (BTC) $ 102,253.00
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Toncoin Drops 2.4% as Post-Rally Selling Pressure Caps Gains

The token briefly rallied to $2.1165 on increased volume before heavy selling erased gains, pulling TON back to key support levels around $2.02.

🔗 Source

💡 DMK Insight

TON’s recent spike to $2.1165 followed by a swift pullback highlights a classic sell-off pattern that traders need to watch closely. The increased volume during the rally indicates strong interest, but the subsequent heavy selling suggests that resistance at $2.10 is holding firm. This could signal a bearish sentiment in the short term, especially if TON fails to maintain support around $2.02. Traders should keep an eye on this level; a break below could trigger further selling pressure. Conversely, if it holds, we might see another attempt to challenge the resistance. Look for volume trends as a key indicator—if buying pressure returns, it could signal a potential reversal. However, it’s worth noting that market sentiment can shift quickly, especially with broader crypto market trends influencing price action. If Bitcoin or Ethereum experience volatility, it could spill over into TON’s price movements. Keep an eye on correlation patterns and be ready to adjust positions accordingly.

📮 Takeaway

Watch for TON to hold above $2.02; a break below could lead to increased selling pressure, while a rebound could test resistance at $2.10.

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