- The Open Network (TON) cryptocurrency rose 4.1% in the last 24 hours, as shown by technical analysis.
- The token price climbed from $3.20 to $3.39 before consolidating near $3.35.
- Trading volume surged to 5.77 million during the breakout, significantly above the daily average.
- TON broke past short-term resistance at $3.33, suggesting room for further gains.
- The CoinDesk 20 index increased 3.7% during the same period.
The value of The Open Network (TON) token increased by 4.1% over the past 24 hours. This move was driven by strong buying activity and occurred alongside broader strength in the top cryptocurrencies, measured by the CoinDesk 20 index. Analysts observed the price forming an uptrend, with buyers pushing TON above several resistance levels before settling near $3.35.
TON’s price rose quickly from $3.20 to a high of $3.39, reflecting a total gain of 6%. Trading volume hit 5.77 million during the breakout, far above the token’s 24-hour average. This high volume signals significant trader interest and increased market activity.
The analysis found that strong support developed at $3.27. The price bounced above this level several times, each on greater-than-average trading volume. TON broke through resistance at $3.33 on high volume, a key technical indicator that often points to the potential for additional upward movement.
After the rally, the token consolidated near $3.35. This period of sideways movement, also called consolidation, suggests some investors are securing profits but that most gains remain intact. In the past hour, the price showed some volatility, briefly falling by 1.24% from $3.38 to $3.34, before finding support near $3.33.
Volume lessened as the price traded between $3.34 and $3.35, signaling a short-term pause in momentum. At the same time, the CoinDesk 20—an index tracking twenty major cryptocurrencies except exchange tokens, meme coins, and stablecoins—gained 3.7%. The article notes that part of the content was produced with the help of AI tools and reviewed for accuracy and standards. For more, see CoinDesk’s full AI policy.
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