$TON 📉 Toncoin falls 8.97% in 24h: Alert signal or entry point?
In the last 24 hours, Toncoin (TON) experienced a sharp decline of 8.97%, driven by a bearish technical environment, a weakened crypto market, and internal concerns within its ecosystem.
🔍 Key points of the movement:
🔻 Technical breakdown: TON failed to maintain support at $3.10, triggering a wave of selling.
📊 Technical indicators:
🔸️RSI (14d): 46.41 → neutral with bearish bias
🔸️MACD: Weakened bullish crossover
🔸️Volume -4.84% → little buying conviction
📉 General market trend:
🔹️Crypto market -5.76%
🔹️BTC -5.2%, dominance rises to 64.03%
🔹️Fear/Greed Index falls from 61 to 54
🔹️Open interest -6.2% ($41.5B) → signal of deleveraging
🐋 Critical internal factors:
🔹️67.95% of TON's supply is in the hands of whales
🔹️90% of holders are at a loss (according to data from June 1)
🔹️Regulation: Singapore took action against unauthorized exchanges (June 12), raising caution throughout the sector
📌 Level to watch: TON is testing the Fibonacci support between $2.89 and $2.90, a key area based on May's lows.
💡 Conclusion:
The fall of TON reflects a perfect storm: technical breakdown, risk aversion, and concentration in few hands. The support at $2.80-$2.90 will be key, but recovery may depend on improvements in the overall environment and the TON ecosystem.
🚀 Will the integration with Telegram (900M+ users) change the long-term trajectory?