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Toncoin (TON) faces a critical juncture as it hovers on the edge of significant support, indicating potential further losses amid declining demand.
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Recent market trends demonstrate increasing selling pressure, which raises concerns about the asset’s stability moving forward.
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“The bearish sentiment is palpable,” says COINOTAG, providing insights on how the current market dynamics could play out.
The decline of Toncoin (TON) continues, with experts predicting further losses as selling momentum intensifies and demand wanes.
Support level could be lost on TON
At press time, TON traded directly on a critical support level. A red candle formed just above this zone, signaling a potential breakdown.
This bearish sentiment, along with the candlestick formation, appears within a broader bullish pattern known as the symmetrical triangle.
Source: TradingView
Typically, the bottom support level often serves as a launch point to drive the asset toward the pattern’s peak at $4.9. However, with a bearish candle forming at support, TON is likely to trade lower. Key levels to observe for a potential rebound are $2.8, $2.5, and $2.3. The strength of buy orders at these levels will determine whether TON can regain bullish momentum and re-enter the pattern.
Which path will it take?
Using market indicators to gauge potential movement, TON is likely trending toward the lower end of the chart.
The Relative Strength Index (RSI), which indicates market trend direction and whether the altcoin is oversold or overbought, has signaled a bearish trend. A bearish trend occurs when the RSI reads between 50 and 30.
TON’s reading stood at 44.21 and is trending downward, indicating that a further drop is likely.
Source: TradingView
At the same time, the Moving Average Convergence Divergence (MACD) supports this view. The MACD line fell to -0.040, while the signal line hovered at -0.021. The bearish crossover reinforces the seller dominance, hinting that lower lows may follow unless momentum reverses soon.
Users are flocking away
On top of that, TON’s DEX Trading Volume across decentralized exchanges dropped significantly and stood at $3.3 million. This is the lowest this year, as shown on the chart.
Source: Artemis
This sharp decline in activity suggests fading interest in TON’s ecosystem. With fewer users and weaker liquidity, both investor confidence and price stability appear compromised. Unless on-chain demand returns or technicals reset, TON risks losing key support and drifting further from the bullish triangle.
Conclusion
As Toncoin navigates these turbulent waters, it faces a critical outlook. Investors should monitor support levels closely, as further declines could lead to a significant reassessment of its market position. Understanding the current trends and technical indicators is crucial for making informed decisions in this volatile landscape.
