Why is TON Down Today? Price Drops 2.4% as Post-Rally Selling Pressure Caps Gains

TONE$2.0433 it reversed earlier gains over the past 24 hours, falling 2.37% to $2.0219 in the US on Wednesday morning, despite fresh signs of growing interest.

The drop followed a brief rally before the US public markets opened, during which TON climbed to a high of $2.1165 on increased volume and renewed market optimism, according to CoinDesk Research’s technical analysis data model.

But the market reaction did not last. After an initial push higher, strong selling erased earlier gains and pulled TON back to key support levels around $2.02. Volume surged as price reversed, indicating that large traders took profits near resistance while short holders followed suit.

The $2.02 level now serves as a key line of defense. If this support holds, the bulls may regroup around the $2.12 resistance area. If it breaks, the recent rally may give way to a broader pullback.

Volatility and trading volume remain elevated, indicating continued interest but also continued uncertainty as TON reacts to competitive signals from long-term holders and tactical sellers.

Disclaimer: Parts of this article were created with the help 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.