Toncoin Falls Below $2 as Broader Market Conditions Weigh on Price
CoinDesk
Toncoin (TON) dropped below $2 due to a wider crypto market downturn and significant long position liquidations.Summary
Toncoin (TON) experienced a sharp decline, falling 5.5% to $1.97 and breaking below the key $2 support level, driven by heavy trading volume and broader negative crypto market conditions. This downturn coincided with Bitcoin dropping below $102,800 and over $1.4 billion in long positions being liquidated across the market, intensifying downward pressure. Although TON briefly swung across an 11.8% range and showed signs of a modest V-shaped recovery toward $1.99, it has since settled near $1.97. Traders are now closely watching the $2 level; a sustained move above it could signal a shift in momentum, but overall pressure remains high, especially concerning major TON holders.
(Source：CoinDesk)