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#Gate广场五月交易分享 The volatility of Toncoin reappears
In early May, the price of Toncoin quickly broke through the $2.50 mark, but then the rally slowed down, falling back to around $2.10. This change shifted market focus to the key $2.00 support level. The recent upward trend in TON started with strong trading volume, but buying interest has since weakened. However, the price remains above the main moving averages, indicating that the overall recovery has not yet ended.
From a technical perspective, the sharp pullback from recent highs reflects profit-taking by investors. $2.00 is an important psychological and technical support level. If Toncoin can hold this level, it may move towards the $2.30 to $2.50 range. Otherwise, there is still a risk of the price falling to the 200-day moving average at $1.75, with the next key support between $1.55 and $1.60. The recent sell-off has also caused the RSI indicator to exit the overbought zone. Currently, TON's price remains near major support levels, but if it falls below $2, it could trigger a larger correction. Market participants are closely watching whether Toncoin can hold the $2 level. A break below this level could lead to accelerated selling.