The social volume for TON has risen even after the price drop, which means that the token is still a trending topic in the crypto space. This could mean higher buying pressure if the overall market sentiment is positive as seen in the figure below.
The Long/Short ratio in different platforms especially those with ratios greater than 1.5 on OKX and top traders on Binance, shows that long positions dominate the market. This preference for long positions suggests that active traders remain bullish in the near term, despite recent setbacks.
Resistance and Support Levels
The first level of resistance to watch is at $7.67, then a more rigid resistance at $8.29. If these levels are violated, TON could aim at the psychological level of $10. On the other hand, the first support level to watch is at $6.60, the 50-day SMA is at $6.83. A break below these levels could lead to a deeper correction towards $4.91.