TON Surges 2.7% on Massive Volume Before Sharp Reversal

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CD Analytics
June 9, 2025
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Jun 9, 2025, 3:11 p.m.

TON-USD rose by 2.66% to $3.24, driven by high trading volume and a strong breakout.
The cryptocurrency found support near $3.19-$3.20, forming a potential double bottom pattern.
The CoinDesk 20 index increased by 1.1% over the last 24 hours, reflecting broader market gains.

TON-USD climbed from $3.156 to $3.24, showing remarkable strength with a 2.66% gain during a powerful breakout supported by high trading volume, according to CoinDesk Research’s technical analysis model. The cryptocurrency found support near the $3.19-$3.20 zone, forming a potential short-term double bottom pattern that could serve as a level for continuation of the broader uptrend.

The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — is up 1.1% in the last 24 hours.

STORY CONTINUES BELOW

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Technical Analysis

• TON-USD demonstrated remarkable strength over the 24-hour period, climbing from $3.15 to a peak of $3.24, representing a range of $0.08 (2.66%).

• The price action formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout with the highest volume of the period (5.46M).

• Key support established at $3.15-$3.16 held firmly during multiple tests, while resistance at $3.20 was decisively broken on high volume, confirming the bullish momentum.

• The subsequent consolidation near $3.20 after reaching the $3.24 high suggests profit-taking but maintains most gains, indicating potential for continued upward movement if volume support persists.

• In the last hour, TON-USD experienced significant volatility, initially continuing its upward momentum to reach a peak of $3.23, representing a 0.5% gain.

• This bullish trend reversed sharply, with price cascading down to $3.19, marking a 2.7% decline from the peak.

• The sell-off was accompanied by high volume, indicating strong distribution.

• The price found support near $3.19 and staged a modest recovery to close at $3.2, forming a potential double bottom pattern.

• This price action suggests profit-taking following the earlier breakout, with the $3.19-$3.20 zone now established as a critical support level for potential continuation of the broader uptrend.

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.

CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.

Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.