TON Plunges 6% Before Staging Recovery Amid Global Tensions
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By AI Boost, Helene Braun|Edited by Stephen Alpher
Updated May 30, 2025, 3:26 p.m. Published May 30, 2025, 2:53 p.m.
- TON experienced significant price volatility with a 7.7% trading range ($3.22-$3.47) starting Thursday, showing strong early momentum followed by persistent selling pressure.
- Telegram’s partnership with Grok AI triggered a shift to long positions, with over 75% of all TON open interest now in long positions despite previous market turbulence.
- Geopolitical tensions and trade disputes between major economies continue to influence cryptocurrency markets, with TON’s price action reflecting broader market uncertainty.
TON’s recent price action reveals the complex interplay between project-specific developments and global economic factors. The token’s dramatic 24-hour range from $3.22 to $3.47 demonstrates how quickly sentiment can shift in cryptocurrency markets affected by international trade tensions. While TON found critical support at $3.22-$3.24, the pronounced bearish momentum that emerged resulted in a 6.2% decline from daily highs before a modest recovery attempt in final trading hours.
STORY CONTINUES BELOW
Technical Analysis
- TON exhibited a 7.7% price range ($3.22-$3.47) over 24 hours, with an early rally followed by persistent selling pressure.
- Key resistance established at $3.44-$3.47 with high-volume rejections during the 14th and 15th hours. Support found at $3.22-$3.24 in later trading sessions.
- Bearish momentum after midnight resulted in a 6.2% decline from the day’s high.
- Volume patterns suggest continued downside vulnerability despite modest recovery attempts.
- Buyers returned to push TON above $3.27 by session’s end, suggesting renewed bullish sentiment.
Disclaimer: Parts of this article were generated with the assistance from 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.
Disclaimer: Parts of this article were generated with the assistance from 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.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
