Toncoin Price Analysis
Toncoin ($TON ) dropped below the support line of the symmetrical triangle pattern on August 24, indicating bearish dominance.
The long tail on the August 25 candlestick suggests that bulls tried to rebound from the $5.25 support but could not sustain the momentum. Bears are attempting to push the price below $5.25; if successful, the TON/USDT pair could decline to $4.72. A close below $4.72 would complete a bearish head-and-shoulders pattern.
The initial sign of a trend reversal would be a break and close above the 20-day exponential moving average (EMA) at $6.34. This could lead the pair to rise toward the 50-day simple moving average (SMA) at $6.66.
