TON Tests Key Support at $2.14 as Inflation Fears Weigh on Risk Assets
The post TON Tests Key Support at $2.14 as Inflation Fears Weigh on Risk Assets appeared on BitcoinEthereumNews.com.
Caroline Bishop
Oct 17, 2025 21:01
Toncoin trades at $2.14 after declining 0.9% amid broader crypto selloff triggered by higher-than-expected US inflation data, with technical indicators pointing to oversold conditions.
Quick Take • TON trading at $2.14 (down 0.9% in 24h) • US CPI inflation report sparking risk-off sentiment across crypto markets • Testing lower Bollinger Band support near $1.97 level • Following Bitcoin’s weakness amid traditional market correlation concerns Market Events Driving Toncoin Price Movement The primary catalyst affecting TON price this week has been the October 14 US Consumer Price Index report, which showed higher-than-expected inflation readings. This development has prompted speculation about potential Federal Reserve policy adjustments, creating headwinds for risk assets including cryptocurrencies. The inflation data has reinforced concerns about tighter monetary conditions, leading to reduced appetite for digital assets across the board. In the absence of significant Toncoin-specific news events over the past 48 hours, TON price has largely moved in tandem with broader crypto market sentiment. The technical analysis published on October 15 highlighting potential upside to $3.75 has provided some support, but macro headwinds have dominated near-term price action. Trading volumes on Binance spot market reached $20.7 million over the past 24 hours, indicating moderate institutional interest despite the bearish price action. The correlation with traditional risk assets has become more pronounced as investors reassess their exposure to growth-oriented investments. TON Technical Analysis: Oversold Conditions Emerging Price Action Context TON price currently sits well below all major moving averages, with the token trading 14% below its 20-day simple moving average of $2.55. The 200-day moving average at $3.07 represents significant overhead resistance, highlighting the magnitude of the recent pullback from yearly highs. The current price action shows TON following Bitcoin’s weakness, though with slightly less…
Filed under: News - @ October 18, 2025 2:30 pm