The Open Network token has recorded a notable decrease in its valuation over the last 24 hours, trading around 1.53 dollars. This TON price pullback occurs after an attempted bullish breakout failed to consolidate, signaling an evident loss of buyer interest in the market. Technical analysis models indicate that initial activity failed to sustain itself, giving way to a moderate correction.
During the session, the asset attempted to overcome the 1.61 dollar barrier driven by a peak of early activity, but selling pressure quickly pushed it toward lows of 1.49 dollars. Subsequently, most of the day was spent in sideways movement, unable to recover lost momentum. Market data reveals that daily volume totaled just 821,000 tokens, a figure well below the usual average, confirming the absence of conviction among traders to maintain higher prices.
On the other hand, this price behavior suggests demand fatigue following the week’s initial enthusiasm. Although there were signs of participation from large market players at the start of the rally, the lack of follow-through has raised doubts about the viability of a short-term rise. The token’s inability to stay outside its consolidation range reflects generalized caution among investors, who seem to have chosen to withdraw while waiting for clearer signals.
Likewise, recent fundamental context had been positive, with the launch of COCOON, a decentralized AI system integrated into Telegram, and new options for tokenized assets. These updates, added to listings on major platforms like Bitstamp, had generated expectations of a sustained rally on the blockchain. However, these catalysts were not sufficient to maintain necessary liquidity at key resistance levels, leaving the asset vulnerable to immediate technical corrections.
Will ecosystem news be able to reactivate demand in the short term?
Nevertheless, for bulls to regain control, it is crucial that the price respects the support level situated at 1.495 dollars. Technical analysts suggest that renewed volume exceeding 4 million tokens will be necessary to confirm any return to upward momentum. Without this liquidity injection, the risk of the asset continuing to slide toward lower zones remains high, forcing traders to closely watch price action in the coming hours.
Finally, the market is at a turning point where the narrative of technological adoption clashes with the reality of available liquidity. The current situation demands caution, as the divergence between positive development news and the market’s tepid response could indicate a prolonged accumulation phase. It is expected that market participants will wait for volume confirmation before taking new significant positions in the asset.
