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MARKET UPDATE: $TON
$TON is trading around 1.991 after a sharp correction from the explosive spike to 2.850 that saw price nearly double in just a few sessions. The 8-hour chart shows a steep pullback following the move, with sellers aggressively unwinding the gains and price now approaching the key support zone around 2.000, which aligns closely with the ascending trendline from March lows around 1.350.
The 2.000 to 2.100 zone is critical to hold on closes to prevent further deterioration. As long as this area acts as support, a stabilization and recovery toward 2.300 to 2.500 remains possible. A break below 2.000 however would expose the trendline around 1.350 as the next major support, representing a full retracement of the spike move.
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