“The token briefly rose to $2.16 before reversing, with high trading volume indicating strong resistance at that level.”, — write: www.coindesk.com
The TON price briefly pushed up towards $2.16 before reversing. That level saw the highest trading volume of the period, with 3.61 million tokens exchanged in the move, indicating strong resistance, according to CoinDesk Research’s technical analysis data model
After holding $2.1 through several previous sessions, TON slipped below that level, hitting a low of $2.067. Volume surged again during the breakdown, reinforcing the shift in market structure.
Traders are now watching the $2.05 level as the next line of defense. If it breaks with volume, the downtrend may continue. Momentum indicators are pointing towards weakness, although the decline has been more contained compared to larger altcoins.
For now, any recovery attempt would likely need to reclaim $2.1 and hold above it, with $2.16 remaining a key resistance point.
Disclaimer: Parts of this article were generated with the assistance 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.
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
View Full Report
Crypto traders are taking profits on the bounce in prices, a Wintermute strategist said in a note.
- Bitcoin erased the overnight rally, falling back below $104,000 by Tuesday US morning hours.
- Crypto miners WULF, HUT, BTDR, CLSK tumbled as the red-hot AI infrastructure theme is cooling off amid weak earnings and development bottlenecks.
- The ADP reported soft jobs data, with the private sector cutting an average of 11,250 jobs per week through October.
Read full story