Toncoin drops 7.14% as rebranding to Gram confirmed

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Toncoin slides 7.14% today to $1.652

Highlights

Toncoin will rebrand as Gram on June 15 after an 81.22% community vote, with exchanges and wallets updating automatically.
The rebrand aims to provide clearer asset identity across platforms, though recent price action remains pressured by ongoing selloffs.
Technical signals are firmly bearish, with the forecast placing price in a $1.442–$1.759 range and little chance of a near-term rebound.

Token rebrand to Gram proceeds under selling pressure and majority vote

The Open Network Foundation (TON) has confirmed that Toncoin will undergo an official rebrand to Gram, with the ticker scheduled to change from TON to GRAM at 8:00 p.m. UTC on June 15 following an 81.22% community vote. This transition is set to occur automatically, with exchanges and wallets updating the ticker and icon without requiring action from current token holders, ensuring operational continuity during the change. The formalized rebrand clarifies the asset’s identity on major platforms, though price action has remained under broader selling pressure.

Sustained downside momentum as price approaches oversold territory

On the technical side, TON is trading below the MA-20 and MA-50 on the H1 chart but remains above the MA-200, indicating some longer-term support at this level. Immediate resistance is identified at the Ichimoku Kijun value of $1.721. Momentum indicators are firmly negative, with MACD at Sell, ADX Neutral, and a low RSI reading of 33. Both the CCI and Stoch RSI show oversold conditions, BBP signals intraday seller dominance, and the Awesome Oscillator also aligns with a downtrend. Price action is near the daily low and accompanied by a gap of $0.077, highlighting persistent intraday volatility.

Downside risk elevated as resistance holds and volatility persists

Looking ahead to the next trading day, TON/USD is projected to hold within a volatility band between $1.442 and $1.759. The probability of a continued decline remains very high, while the odds of an immediate upward reversal are quite low. A neutral baseline scenario would entail the price consolidating in a sideways range. For any bullish scenario to materialize, the price would need to decisively break above the resistance level at $1.721, whereas a bearish extension is likely if price falls through the $1.442 support.

Viktoras Karapetjanc, expert at Traders Union, sees the official TON rebrand to Gram as a positive step for clarity and user adoption. He believes the smooth transition and strong community backing improve confidence despite current price pressure. Macro and sentiment factors remain challenging, but he notes operational stability through the rebrand. "A decisive break above $1.721 resistance could trigger a constructive shift in momentum, so I’m closely watching this level for a confirmation of trend reversal."

Previously it was reported that Toncoin's bullish momentum was underpinned by strong support and aggressive buying activity following technical improvements in The Open Network. With the recent shift to pronounced selling pressure and a confirmed rebranding to Gram, traders should now monitor for potential volatility around the ticker transition and the critical $1.721 resistance, which could determine the asset’s short-term direction.

Source of Data: TON Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.