Both altcoins Cronos (CRO) and Toncoin (TON) are sending negative signals this week, as both closed below significant upward trend lines - a sign that the market structure may be gradually shifting to a negative direction. Current technical indicators show a clear weakening of the upward momentum, and the risk of a deep correction, potentially reaching double digits, for both CRO and TON in the coming days is entirely plausible.
On-chain indicators for Cronos and Toncoin lean toward a bearish trend.
Supply distribution data from Santiment shows that selling pressure is increasing in the Cronos (CRO) market, as large wallets begin to sell off. Specifically, the amount of CRO held by wallets holding between 10 million to 100 million tokens (blue line) has sharply decreased from 1.15 billion to only 1.04 billion in just the period from Thursday to Tuesday.
In contrast to the retreating trend of large whale groups, smaller wallets — including those holding between 100,000 to 1 million CRO (red line) and from 1 million to 10 million CRO (gold line) — are increasing accumulation. Specifically, the holdings of these two groups increased from 140.07 million to 142.1 million and from 2.03 billion to 2.08 billion tokens, respectively.
However, the selling volume from large wallet groups still far exceeds the buying volume from smaller groups, leading to a net decrease in total holdings and increasing selling pressure. This results in a negative outlook for CRO prices in the short term.
Another bleak signal comes from the Long/Short ratio on the CRO exchange, with the current index at 0.79 — the lowest in over a month. A ratio below 1 reflects a prevailing pessimistic sentiment, as the number of short positions exceeds long positions, indicating that most investors are betting on the possibility that CRO's price will continue to decline.
Not only CRO, but the situation is also not very favorable for Toncoin (TON). According to on-chain data from the Artemis analysis tool, DEX trading volume on the TON network has continuously plummeted since early December, dropping to only $6.4 million as of Monday. This decline reflects a significant weakening in activity and liquidity on the TON blockchain — a sign of diminishing interest from users and investors in this ecosystem.
Cronos Price Forecast: Bears Targeting a 10% Correction
The price of Cronos (CRO) has broken the upward trend line - formed by connecting the lows since late February - and closed below this level on Friday, before continuing a slight downward trend on Saturday. On Monday, CRO's recovery was quickly halted at the old trend line, coinciding with the resistance area of $0.092, turning this area into a notable reversal point. As of the time of writing on Tuesday, CRO is trading around $0.090.
With the current technical signals, trend traders may consider opening short positions in the price range of $0.092–$0.095, with a stop-loss set slightly above the 50-day EMA at $0.096.
If selling pressure continues to increase from the aforementioned resistance area, the correction could be extended, bringing the CRO price back to test the important support level at $0.080.
In terms of technical indicators, the daily RSI is fluctuating at 38 - below the neutral threshold of 50, indicating that selling pressure remains dominant. At the same time, the MACD has just crossed below the signal line last week, accompanied by the appearance of expanding red histogram bars below the 0 line - a clear signal of a bearish trend.
However, if the CRO price can close above the 50-day EMA at $0.096, the bearish scenario will be invalidated. In that case, buying pressure may be reactivated, opening up the opportunity for CRO to challenge the peak area on June 10 at $0.101.
Toncoin Price Forecast: The Decline of TON Continues to Accelerate
Toncoin (TON) has broken the upward trend line established since mid-March and officially closed below this level last Friday, signaling weakness in the price structure. Shortly after, this coin dropped nearly 3% the following day before entering a sideways phase around $2.95. As of Tuesday morning, TON is still fluctuating around the $2.98 region.
For investors considering opening short positions, the price area from $3.00 to $3.15 could be a potential entry zone. The stop-loss should be set above the 50-day exponential moving average (EMA), about 2–3% above this threshold, corresponding to the $3.15 region.
If the price continues to correct from the aforementioned resistance area, TON may face the risk of revisiting the bottom on April 14 at $2.65.
Technical indicators are reinforcing the bearish scenario. On the daily timeframe, the RSI is at 41 - below the neutral threshold of 50 - indicating that bearish momentum still prevails. Meanwhile, the MACD formed a bearish crossover last week, accompanied by increasingly expanding red histogram bars below the 0 line, reflecting increasing selling pressure.
Conversely, if TON rises again and closes above the 50-day EMA at $3.15, the bearish scenario will be invalidated. In that case, this coin may resume its upward trend, with a short-term target being the old peak on June 10 at $3.39.
