My crypto people, things with Toncoin (TON) are really setting off alarm bells! 🚨 Turns out this little coin took a massive nosedive, dropping to $2.95 at the time of writing! 😱 That's a 4.58% drop in the last month, according to CoinMarketCap data. What a bummer!

The fall didn't come alone, as trading volume plummeted by more than 57% in just 24 hours! And its market capitalization also slipped to $7.28 billion. Now, those in the know—the technical analysts—are warning that things could get worse! 😩

Crypto analyst Ali Martinez has released a worrying piece of information: it appears that TON has broken out of a symmetrical triangle pattern that had been forming for a while on the daily chart. This is like when a building loses its base! 🏗️ According to his analysis, if this is confirmed, TON could correct even deeper, perhaps reaching the $2.00 support level! Phew, that would be a low blow!

What happened to the price structure? Unmasking the crash! 🕵️‍♀️

This triangle pattern has been brewing since mid-February, tightening between $3.60 and $2.80. But now that the breakout is confirmed below $3.00, the trend is down! It's as if the price is in free fall unless buyers step in and rescue it. 🦸‍♂️

The chart tells us that momentum is declining, and so is volatility, and that's usually the prelude to explosive moves! But in this case, since it's a downward breakout, it could trigger a wave of selling as people panic and react to the break in support. It's the classic domino effect! 🎲

The numbers don't lie: TON's outlook! 📊

Here's the little tidbit about TON's numbers to get you up to speed:

  • Market Cap: $7.28 Billion (down 1.88%!)

  • 24-hour volume: $128.9 million (down 57.28%)

  • Circulating supply: 2.46 billion TON (out of a total of 5.13 billion)

  • FDV (Fully Diluted Valuation): $15.15 billion

This combination of plummeting volume, rock-bottom sentiment, and a technical decline suggests continued bearish pressure unless market conditions change overnight!

Key levels to watch out for: Staying sharp is key! 👀

If you're one of those who own Toncoin or have your eye on it, take note of these important levels!

  • Immediate support: $2.80 (first hurdle!)

  • Main support zone: $2.00 (this is where it will decide whether it stabilizes or the chaos continues!)

  • Resistance for recovery: $3.15–$3.30 (if it gets here, there is hope for a reversal!)

With the bearish sentiment and the chart screaming "beware," traders need to keep their eyes peeled. If that $2.80 level doesn't hold, things could accelerate to $2.00! That two-dollar zone is like the breaking point, where it will decide whether Toncoin stabilizes and recovers or enters a longer decline.

So, people, keep an eye on Toncoin! We could be facing a surprise rebound or a deeper correction. Only time will tell! ⏳$TON