Toncoin's (TON) price performance in July and August has been disappointing, leading to a shift from optimism to pessimism among investors. The negative funding rate indicates a bearish sentiment, with many taking short positions in anticipation of further price declines. The Market Value to Realized Value (MVRV) ratio suggests potential buying opportunities, as TON's 30-day MVRV stands at -11%, signaling possible recovery. However, current market conditions indicate a bearish trend before any potential rebound. If support at $6.04 holds, Toncoin's price could bounce back towards $6.50, invalidating the bearish outlook. On the other hand, a breach below $6.04 could lead to a further decline to $5.49. Investors are advised to monitor market signals closely before making any investment decisions. This analysis serves for informational purposes only and does not constitute financial advice. Read more AI-generated news on: https://app.chaingpt.org/news