Toncoin/USDT : Bearish Breakdown Threat Looms
#TON/USDT #Binance #tonusdt #BinanceSquareFamily
Toncoin (TON) is facing resistance within a descending wedge pattern, showing multiple rejections from the upper boundary.
The bulls are losing momentum as the price hasn't engulfed previous highs.
Fibonacci retracement marks 0.618 as a strong resistance zone.
If the current support breaks, TON could target $5.17, with a further breakdown risking a drop to the critical $5.00 psychological support.
Conclusion : If these key supports fail, a bearish continuation is likely.
Advice : Monitor the $5.17 and $5.00 levels closely for potential downside risk.
