TON Finds 'Strong Support' at $3.00 Level Amid Wild Crypto Price Swings

Buyers step in during the price correction, driving a rapid upswing with a significant volume spike. Toncoin TON$3.19 among cryptocurrencies that saw significant price volatility amid the tussle between President Trump and Elon Musk on the state of the U.S. economy. The TON token saw a sharp 7.7% correction on June 5th, according to CoinDesk Research's technical analysis model. After dropping from $3.25 to $3.00, the asset found "strong support" at the psychologically important $3.00 level, where high trading volume indicated substantial buyer interest, the model showed. Recent price action shows TON forming a potential support zone between $3.164-$3.168, with buyers consistently stepping in during minor pullbacks. The hourly volume profile indicates sustained buying interest despite previous volatility. The move comes as the CoinDesk 20 (an index of the top 20 cryptocurrencies by market cap except for stablecoins, exchange coins and memecoins) is down 0.8% in the last 24 hours. Technical analysis highlights • TON experienced a 7.7% correction from $3.25 to $3.00 with peak volume exceeding 10 million units during the sell-off. • Strong support established at the $3.00 psychological level, creating a high-volume demand zone. • Recovery of 5.6% over 18 hours brought the token’s price back to $3.17. • Temporary resistance levels at $3.11 and $3.15 briefly slowed momentum. • Recent 2.5% surge from $3.14 to $3.17 in the last hour. • Significant volume spike broke through key resistance at $3.15. • Support zone formed at $3.16-$3.18 with consistent buyer interest during pullbacks. • Profit-taking was observed at $3.17, followed by a higher low at $3.16, indicating continued bullish structure. 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. https://www.coindesk.com/markets/2025/06/06/ton-finds-strong-support-at-300-level-amid-wild-crypto-price-swings #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple