Toncoin [TON] Drops 8.10% in a Month, Bearish Trend Continues

Toncoin [TON] has been experiencing a bearish trend over the past month, with a decline of 8.10%. The momentum of this decline has slowed in the last 24 hours, with a smaller drop of 0.79%. However, market sentiment suggests a high likelihood of further decline.

At the time of reporting, TON was trading directly on a critical support level, with a red candle forming 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. Typically, the bottom support level often serves as a launch point, driving 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 watch 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.

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, signaled a bearish trend. A bearish trend occurs when the RSI reads between 50 and 30. TON’s reading stood at 44.21 and trending downward, indicating a further drop is likely.

At the same time, the Moving Average Convergence Divergence (MACD) backed this view. The MACD line fell to -0.040, while the signal line hovered at -0.021. The bearish crossover reinforced the seller dominance, hinting that lower lows may follow unless momentum reverses soon.

On top of that, TON’s DEX Trading Volume across decentralized exchanges dropped significantly and stood at $3.3 million. 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.