Toncoin Faces Bearish Pressure Near Key Support Levels

Toncoin (TON) is currently at a pivotal moment, hovering near a crucial support level that could determine its future trajectory. The asset is experiencing increased selling pressure, which has raised concerns about its stability and potential for further losses.

Market analysts, including COINOTAG, have noted the bearish sentiment surrounding TON. The recent decline in demand and the formation of a red candle just above the critical support level indicate a potential breakdown. This bearish sentiment is part of a broader bullish pattern known as the symmetrical triangle, which typically sees the bottom support level as a launch point to drive the asset toward the pattern’s peak at $4.9. However, the current bearish candle formation suggests that 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. Market indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), support the bearish trend. The RSI reading of 44.21, which is trending downward, indicates a further drop is likely. The MACD line falling to -0.040, while the signal line hovers at -0.021, reinforces seller dominance, hinting that lower lows may follow unless momentum reverses soon.

Additionally, TON’s DEX Trading Volume across decentralized exchanges has dropped significantly, standing at $3.3 million, the lowest this year. 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.

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.