$TON is currently trading at around $5.658, $TON showing some recent bearish momentum after a 2.77% drop. While it recently hit a high of $5.887, the price has been correcting, and we may see further downside before a potential bounce. Recent market trends suggest that $TON's adoption is growing, particularly with integrations like the Telegram Mini App for ride payments, which boosted its real-world utility. However, the broader market has faced pressure from macroeconomic factors, including fears of a recession and a global crypto downturn.

If you're looking for trade signals, a long position could be considered above $5.887, with targets around $5.92 and $5.96. For short trades, entering below $5.477 might present opportunities, aiming for $5.40 and $5.35. Keep in mind that $TON's recent volatility, partly driven by Telegram's ecosystem developments and broader market trends, could result in price swings, so setting appropriate stop losses at $5.75 for long trades and $5.65 for short trades is key.

Be cautious and monitor upcoming market events as they may influence TON's trajectory in the near term.