#Gate广场五月交易分享 $TON Consolidating near the 24-hour low after a continuous decline

The Open Network token ($TON) is currently trading at $1.8992, showing a clear intraday correction of -8.54%. On the 1-hour chart, the asset has experienced a stable downward waterfall from the structural peak, pushing the price action down to a key lower support boundary.
Bullish $TON
entry zone: $1.8700 – $1.9100
Stop loss (SL): $1.8200
Target 1 (TP1): $1.9800
Target 2 (TP2): $2.0400
Target 3 (TP3): $2.1000
Market analysis
$TON Has been below the structural distribution for several consecutive trading days, since slipping from the local high of $2.1150, tracking a series of descending candles. The breakdown has caused the asset to enter a short-term support bottom directly, closely following the 24-hour low of $1.8620. Due to the short-term indicators heavily favoring the downside, the current bottom serves as a reasonable technical pivot, where sellers may pause to lock in profits, forming a potential oversold rebound.