The Open Network's native token, TON, is trading at $1.60 as of Wednesday, sitting below every major short-term moving average. The price has been drifting lower with little conviction, and momentum has flattened to near zero, leaving traders watching a key support level at $1.57.
Price action and moving averages
TON's current price of $1.60 is beneath its 10-day, 20-day, and 50-day moving averages, a configuration that typically signals a bearish short-term trend. The token has not seen a decisive breakout in either direction over the past week, with daily ranges narrowing. Volume has also tapered off, suggesting that neither buyers nor sellers are willing to commit heavily at these levels.
The flatlining momentum is reflected in the Relative Strength Index, which hovers near 45 — neutral territory but leaning slightly toward oversold. Without a catalyst, the token appears to be drifting on low conviction.
Support levels and risk of further decline
The immediate support is at $1.57, a level that has held during recent intraday dips. If that support fails, the next likely target is $1.46, a zone that acted as resistance in late February and could now become support. Traders describe $1.55 as the last line of defense for bulls; a break below that would likely accelerate selling.
On the upside, resistance sits at $1.70, where the token stalled earlier this month. A move above that would need to be accompanied by a pickup in trading volume to be considered sustainable.
With no major network announcements or ecosystem developments in the immediate pipeline, TON's price is largely at the mercy of broader crypto market sentiment. Bitcoin's recent consolidation around $60,000 has done little to lift altcoins, and TON has been no exception.
The key question for traders now is whether the $1.57 support will hold. If it does, a range-bound grind between $1.55 and $1.70 could persist. If it breaks, the path to $1.46 opens up — and that level would likely determine whether the current slide turns into a deeper correction.
