Toncoin’s Descent: Will $2.8 Be the Lifeline for the Drowning Bulls?

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  • In the shadow of a bullish triangle, TON stands like a weary traveler, teetering on the edge of despair.
  • As the winds of selling momentum howl, the once-vibrant demand withers, leaving support as fragile as a spider’s web.

Ah, Toncoin [TON], that fickle friend, has been on a downward spiral, losing 8.10% of its worth over the past month. Yet, in a twist of fate, the last 24 hours have seen a mere 0.79% dip, as if it’s taking a breather before the plunge.

But don’t let that lull you into a false sense of security; the market whispers ominously of further declines. The wise folks at AMBCrypto have laid bare the potential calamities that may unfold.

Support Level: A Fragile Lifeline

As the clock ticks, TON finds itself precariously perched on a critical support level. A red candle flickers ominously just above, like a warning light on a rickety old truck, hinting at a possible breakdown.

This bearish sentiment, wrapped in the guise of a candlestick formation, dances within the broader bullish pattern known as the symmetrical triangle—an irony that would make even the most stoic observer chuckle.

Usually, the bottom support level serves as a launchpad, propelling the asset toward the lofty heights of $4.9. But alas, with a bearish candle casting its shadow, it seems TON is more likely to plummet than soar.

Keep your eyes peeled for the key levels of $2.8, $2.5, and $2.3. The strength of buy orders at these junctures will determine if TON can muster the courage to reclaim its bullish spirit and rejoin the pattern.

Which Path Will It Choose?

As we peer into the crystal ball of market indicators, it appears TON is charting a course toward the lower depths of despair.

The Relative Strength Index (RSI), that fickle friend of market trends, has spoken, indicating a bearish trend. When the RSI reads between 50 and 30, it’s like a warning siren blaring in the night.

Currently, TON’s reading sits at 44.21, trending downward, suggesting that further drops are not just possible—they’re practically guaranteed.

Meanwhile, the Moving Average Convergence Divergence (MACD) echoes this sentiment. The MACD line has slumped to -0.040, while the signal line hovers at -0.021, like a pair of sad clowns at a failed circus.

This bearish crossover reinforces the dominance of sellers, hinting that lower lows may be on the horizon unless a miracle occurs.

Users Are Flocking Away Like Birds in a Storm

To add insult to injury, TON’s DEX Trading Volume has plummeted to a mere $3.3 million, the lowest it’s been this year. It’s like watching a once-bustling town turn into a ghost town overnight.

This sharp decline in activity suggests that interest in TON’s ecosystem is fading faster than a summer sunset. With fewer users and liquidity drying up, both investor confidence and price stability are hanging by a thread.

Unless on-chain demand makes a triumphant return or the technicals undergo a miraculous reset, TON risks losing its key support and drifting further away from the once-promising bullish triangle.

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2025-05-26 04:11