The Towns Protocol token, known as TOWNS, faced a sharp drop in price following its launch on the Binance exchange, disappointing investors.
TOWNS Token Price Crash
The TOWNS token was among the first to be launched on Binance. The initial supply was 10,128,333,333 tokens. However, after the listing, the token experienced a significant correction, shedding 50.32% of its value to trade near $0.04020. This steep decline coincided with a simultaneous sharp reduction in market capitalization from over $170 million to about $84.8 million.
Towns Price Prediction
On the chart, the token has moved from its early peak near $0.08878 down to a support cluster between $0.038 and $0.040. After the initial sharp selloff, the market entered a consolidation phase, with price action trading sideways in a tight horizontal channel. The large red candles at the beginning of this period indicated capitulation selling, while the following low volatility candles suggested that market participants were waiting for new catalysts.
Short-term Prediction
The immediate support zone is at $0.038, currently seeing some sideways consolidation. A clean break below on a daily close could open retesting of lower support zones in the $0.035–$0.033 range. A relief rally towards $0.052–$0.055 is projected if strong volume confirms above the resistance at $0.046.
The Towns Protocol token market continues to exhibit volatility following the Binance listing, and investors are advised to closely monitor its dynamics over the coming weeks.
