Toncoin (TON) drops 20% 📉 after Telegram CEO Pavel Durov’s arrest in France.

Pavel Durov was arrested at Le Bourget airport in Paris after arriving from Azerbaijan ✈.

Charges relate to Telegram’s alleged failure in content moderation, allowing illegal activities like fraud, drug trafficking, and more 🚹.

TON price fell from around $7 to $5.3, a 20% drop, causing market cap to plummet from $17 billion to $13.4 billion 💾.

TON’s market cap bounced back slightly to around $14 billion but remains unstable 📊.

TON’s future is closely tied to Telegram, as it originated from Telegram’s projects before moving to the TON Foundation 🔗.

Technical analysis shows TON slipping below support line in a symmetrical triangle pattern on August 24 📉.

Bulls tried to bounce off $5.3 support on August 25 but failed, with bears pushing price down again đŸ».

If price falls below $5.3, it could drop to $4.7, confirming a bearish head-and-shoulders pattern ⚠.

Hope lies in breaking above the 20-day EMA at $6.3, potentially reaching the 50-day SMA at $6.7 📈.

Notcoin (NOT), another crypto on the TON blockchain, also dropped 24%, from $0.012 to $0.0091, with market cap falling from $1.2 billion to below $950 million 📉.

$TON $DOGS $NOT

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