• Toncoin price steadies at $3.36 despite a week’s 7.03% decline.
• Open interest rises 1.99%, ranking second in the current market.
• The OI-weighted funding rate signals mild bullishness, ranking third overall.

Toncoin (TON) is holding its ground, even as the overall crypto market remains quiet. Although the past week saw its value dip by 7.03%, the token has gained 1.1% in the past 24 hours, showing short-term bullish momentum.

At the time of writing, TON is priced at $3.38, reflecting a small 0.89% gain over the last 24 hours. Its daily trading volume has dropped 30.36% to $269.14 million, while market capitalization stands at $8.64 billion.

Toncoin eyes $3.66 as its next resistance level

From a price movement perspective, TON is trading near the upper edge of its recent range. A strong support level around $3.17 has helped the coin avoid deeper declines.

If buying pressure grows, the next potential target could be $3.66, likely acting as a barrier before further gains. Conversely, slipping below $3.17 could push the price toward $2.69.

Market indicators point to cautious optimism. The relative strength index (RSI) is currently at 57.31, a comfortable zone suggesting room for the price to rise before overheating.

Another key measure, the MACD, shows a slight positive shift, hinting that momentum could lean upward if conditions hold.

Also Read: Toncoin (TON) breaks resistance; market signals push toward $4.00 level

OI-weighted funding rate signals mild bullishness

In the derivatives market, trading volume has fallen 33.80% to $289.69 million, showing a slowdown in short-term activity. However, open interest, the number of active contracts, is up 1.99% to $400.81 million, suggesting many traders are still holding positions.

The OI-weighted funding rate is at 0.0065, a slightly positive reading that can indicate mild bullish sentiment among leveraged traders.

For now, Toncoin is in a consolidation phase, meaning its price is moving within a steady range without a clear breakout.

If trading volume rises while open interest remains strong, the coin could make another push higher. But if activity continues to fall, TON may stay in its current sideways pattern until stronger momentum builds.

Also Read: $558M Toncoin Treasury Push: Verb Technology Transforms into TON Strategy Co.