Telegram's blockchain struggles as broader market weakness hits Layer 1s hardest.
What's Happening:
TON drops 2.68% to $1.56, among the worst performers in Tier 1
Telegram integration continues despite price weakness
Layer 1 tokens face increased selling pressure as BOJ concerns mount
Mini-app ecosystem development remains active despite market conditions
Why It Matters: TON's steeper decline relative to peers reflects the heightened vulnerability of newer Layer 1s during risk-off periods. While the Telegram integration provides unique distribution advantages, the token hasn't established the same institutional support base as legacy assets during market stress.
Technical View: $TON breaking below $1.60 is a concerning technical development. The $1.53 daily low now serves as critical support. Momentum indicators suggest oversold conditions, but buyers remain absent. Recovery requires reclaiming $1.60 as first resistance, with $1.64 as the key level to flip bullish.
🎯 Key Levels:
Support: $1.53 | Resistance: $1.64
24h Range: $1.53 - $1.64
💡 Distribution is TON's moat, but moats don't stop floods - Telegram's 900M users await calmer waters
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Toncoin #TON #Telegram #Layer1 #CryptoMarket
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
