Usman Salis
⬤ Toncoin (TON) is still caught in a technical downtrend on the weekly chart, showing a clear pattern of lower lows and lower highs. TON keeps respecting the broader downward trendline. Recent attempts to stabilize haven't changed the longer-term trajectory, and the analyst expects more consolidation before any real bottoming pattern emerges.
⬤ The $1 zone stands out as the critical support level where TON might finally build a lasting base. Until price action develops around that area, the weekly chart shows the token continuing its slide lower. Rallies toward the descending trendline have been consistently rejected, which reinforces the idea that bears are still in control. As one analyst noted, TON is "not out of the woods" while it trades below that resistance line.
⬤ Even with occasional bounces, Toncoin hasn't formed the kind of consolidation or higher-low structure that would signal a potential trend reversal on the weekly timeframe. A confirmed bottom will likely need both consolidation and price stabilization near support levels. Until then, TON remains in what looks like a weakening trend phase, waiting for clearer signs of structural change.
⬤ This technical setup matters because it keeps traders cautious at a time when crypto market sentiment is particularly sensitive to trend signals. If TON can hold and consolidate near the $1 support, it might lay the groundwork for recovery. But if that level fails to hold, sentiment could take another hit. Market watchers are now focused on how price behaves as it approaches that key zone and whether the downtrend finally starts losing steam.
Usman Salis
