Peter Smith
Toncoin has been struggling to find its footing in recent trading sessions, trapped within a bearish technical pattern that's keeping bulls at bay. As the cryptocurrency continues to face headwinds, traders are closely monitoring key support and resistance levels that could determine TON's next directional move in the near term.
TON Price Analysis: Rejections Keep Bears in Control
Toncoin can't seem to break free from its downward-sloping channel, and the latest price action shows exactly why. The token recently got shot down again near the $3.18–$3.20 area, where multiple resistance lines have been blocking any upward movement. This rejection has sent TON sliding lower once more, proving that sellers are still calling the shots.
Trader @HolderStat pointed out that these repeated failures to push higher show there's just not enough buying power right now. Each attempt gets weaker than the last, leaving TON exposed to more selling pressure.
As long as TON stays stuck below that $3.18–$3.20 ceiling, it's probably heading lower. The next stop looks to be the support zone around $3.03–$3.06, with the bottom of the channel sitting just under the key $3.00 psychological level. If that support breaks, we could see TON drop even further in the coming days.
The only way this bearish outlook changes is if TON can actually break above $3.20 and hold it. That would give buyers some hope and potentially open the door for a move to higher levels.
Limited Momentum Signals Suggest Controlled Decline
Trading activity has been pretty quiet lately, which means we're not likely to see any dramatic moves in either direction. Without some major news or catalyst, TON will probably just keep grinding lower within this channel until it hits that crucial $3.00 support level. That's where we'll find out if the selling finally stops or if things get worse for TON holders.
Peter Smith
