Toncoin ($TON) Price Under Pressure Despite Vaults Integration

The TON Wallet's introduction of Vaults has brought attention to Toncoin ($TON), despite its current price being under pressure. The feature enables users to earn yield on Bitcoin, Ethereum, and Tether without leaving the app, making it one of the most accessible DeFi entry points for everyday users.

Despite the potential benefits of Vaults, $TON's market performance has been negative, with a 3.6% decline over the past 24 hours. The cryptocurrency's price has broken both its 7-day and 30-day simple moving averages, indicating downward momentum.

Techincal indicators suggest that $TON is oversold, with an RSI reading of 26.42. However, this may also indicate a potential rebound in the near future. A short-term bounce could occur if buyers step in at key support levels between $1.23 and $1.30.