Why is the tone dropping now? The price fell 2.4% as post-rally selling pressure caps
It reversed earlier gains in the past 24 hours, falling 2.37% to $2.0219 on Wednesday morning US time despite fresh signs of growing interest.
The fall followed a brief rally ahead of the opening of the US public market, where Ton climbed to a high of $2.1165 on increased volume and updated market optimism, according to Coindesk Research’s technical analysis model.
But the market reaction did not hold. After the initial push higher, heavy selling erased earlier gains, taking the ton back to key support levels around $2.02. Volume advanced as price reversed, suggesting large traders took profits near resistance while short-term holders followed suit.
The $2.02 mark now serves as a major line of defense. If that support holds, the Bulls could regroup around the $2.12 resistance area. If it breaks, the recent rally could give way to a wider pullback.
Volatility and trading volume remain elevated, pointing to continued interest, but also continued uncertainty, as the ton responded to competing signals from long-term holders and tactical sellers.
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