TON Price Faces Critical Support Test at $1.32 Amid Downtrend Dominance

The TON cryptocurrency is currently trading in the range of $1.27-$1.34, with its price stabilized around the current value of $1.32. This stability comes despite the overall downtrend dominance of the cryptocurrency market. The daily volume has reached $62.08 million dollars, but the trend structure remains unchanged.

The recent 3.53% rise in TON's price can be seen as a short-term reaction buy. However, the price is still trading below the EMA20 (1.32$), indicating bearish short-term signals. The altcoin rally seems to have had an impact on TON's price, but it has not yet reached the upper band of the descending channel on the weekly chart.