The Open Network's native token, TON, is trading at $1.60, pinned below its declining moving averages as spot volume dries up. The technical picture points to a market waiting for a decisive move, with a daily close above $1.64 likely to tilt momentum bullish and a drop to $1.40 posing the real downside risk.
Price action and moving averages
TON has spent recent sessions hovering around the $1.60 mark, but that level isn't holding as a firm floor. The token sits beneath its short- and medium-term moving averages, which are both sloping downward — a sign that the recent trend has favored sellers. A sustained push above $1.64 would be the first meaningful break of that resistance, and traders are watching whether buyers can muster enough strength to close a daily candle above it.
Volume and momentum
Spot volume is anemic. That's a problem for any recovery attempt, because low participation often means moves lack conviction. The MACD indicator, which tracks momentum, is flatlining in negative territory. That's not a fresh sell signal, but it's also not showing the kind of upward pressure needed to reverse the slide. Without a pickup in volume, even a push toward $1.64 could stall.
Key levels to watch
The immediate upside trigger is clear: a daily close above $1.64. If that happens, the probability shifts toward a more bullish setup, potentially opening the door to higher prices. On the downside, the real risk sits at $1.40. That's the support level that has held in recent weeks, and a break below it would likely accelerate selling. For now, TON is caught between these two markers, with the technicals leaning bearish but not decisively so.
The next few sessions will tell the story. A close above $1.64 on rising volume would change the narrative; a slip toward $1.40 would test the patience of holders. Until one of those levels gives way, expect more of the same choppy, low-volume trading.
