- Ton is at the basis of a bullish triangle, but shows signs of lower breaking.
- Selling Momentum is increasing, while the falling demand weakens support and stability.
Toncoin [TON] remained in the past month and decreased 8.10%. However, Momentum has been delayed in the last 24 hours, with a smaller decrease of 0.79%.
Nevertheless, market sentiment suggests a great chance of further deterioration. Ambcrypto analysis provides a clear insight into what could happen.
Support level can be lost on Ton
At the time of the press, Ton immediately traded at a critical level of support. A red candle formed just above this zone and indicates a potential demolition.
This bearish sentiment, together with the candlestick formation, appears within a wider bullish pattern that is known as the symmetrical triangle.
Source: TradingView
Mostly tThe soil support level often serves as a launch point, which means that it actively drives to the peak of the pattern at $ 4.9.
However, with a bearish candle that forms in the support, Ton is likely to act lower.
The most important levels to pay attention to a potential rebound are $ 2.8, $ 2.5 and $ 2.3. The strength of buying orders at these levels will determine whether Ton can regain the bullish momentum and re -enter the pattern.
Which path will it need?
With the help of market indicators to gauge potential movement, Ton is probably trending to the bottom of the graph.
The relative strength index (RSI), which indicates the market trend direction and whether the Altcoin is sold over or overbought, meant a bearish trend.
A bearish trend occurs when the RSI reads between 50 and 30.
Ton’s lecture was 44.21 and trending down, indicating that a further decrease is likely.
Source: TradingView
At the same time, the advancing average convergence -divigence (MACD) supported this display. The MACD line fell to -0.040, while the signal line floated to -0.021.
The Bearish crossover strengthened the dominance of the seller and hinted that lower lows can follow, unless the momentum quickly reverses.
Users get away
In addition, Ton’s DEX -Handelsvolume on decentralized exchanges fell considerably and stood on it For $ 3.3 million. That is the lowest this year, as shown on the graph.
Source: Artemis
This sharp decrease in activity suggests the fading interest in Ton’s ecosystem. With fewer users and weaker liquidity, both the trust of investors and price stability seem to be affected.
Unless the demand for chains returns or technical reset, Ton risks losing the most important support and further driving the bullish triangle.