1 day ago
Recent terms enactment reveals TON's conflict to support stability, with a failed breakout effort astatine $3.22 followed by accelerated selling during highest trading hours, according to CoinDesk Research's method investigation model.
The determination comes arsenic the broader marketplace gauge, CoinDesk20 Index, remained flat.
Technical indicators overgarment a imaginable bearish representation connected the short-term timeframe arsenic the enactment of little highs and little lows suggests gathering bearish momentum.
The breakdown of the $3.16 enactment level, confirmed by high-volume selling, has opened the doorway to further imaginable downside arsenic planetary economical tensions proceed to reshape capitalist priorities crossed some accepted and cryptocurrency markets.
Technical investigation highlights
• Failed breakout effort astatine the $3.22 absorption level, followed by accordant selling pressure.
• Accelerated selling with above-average volume.
• Notable enactment emerged astatine $3.16, wherever buyers antecedently stepped successful with beardown volume.
• Formation of little highs and little lows since the rejection astatine $3.22 suggests bearish momentum.
• A short-term treble apical signifier formed astatine the $3.18 level earlier breaking down.
• High measurement selling pushed prices down to $3.16, confirming the breakdown of the $3.16 enactment level.
• 1.2% terms plaything wrong the hr demonstrates expanding marketplace instability.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk's afloat AI Policy.
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