#TON is going against the market: price ~1.49 (-1.92% over 24h, -20% over the week), while many altcoins show growth or smaller losses, but #TON is under greater pressure. Key reasons:

1. Technical weakness and breach of support: TON broke through the key level of $1.70–1.80, triggering stops and a cascade of sales. RSI ~24 — oversold, but MACD is negative, momentum is falling. Volatility has increased on short timeframes, threatening support at $1.40. This is a classic "breakout of structure" after a local peak of 1.85 USD.

2. Decrease in volume and investor enthusiasm: Trading volume $116M (+14.9% over 24h, but below peaks), indicating a lack of conviction. Investors are avoiding speculative altcoins like TON, rotating into "defensive" (BTC/ETH) or hype assets. Fear & Greed ~22 (Extreme Fear) intensifies outflows.

3. Capital rotation and profit-taking: After the rally in October-November, profits are being taken. Capital is leaving "high-beta" altcoins (TON as a meme/DeFi player) into more stable or hot assets (Solana ecosystem, AI tokens). Institutional outflows ~$1M (CoinShares).

4. External factors: Unlock on November 22 (67M USD) played out, but coincided with a global dump (Trump tariffs, Fed fears). #TON is sensitive to Telegram news (failures, regulations), unlike altcoins with hype.