After Toncoin ($TON) experienced a shocking 25% drop following the arrest of Telegram founder Pavel Durov on August 25, the coin managed a brief recovery, rising 15% in sync with Bitcoin's surge on September 9. But the storm isnât over yet!
Despite the short-term rebound, technical indicators suggest the threat of a massive downtrend. TON's chart is currently forming the ominous inverted cup and handle patternâan established signal for further declines. If $TON fails to reclaim the neckline support, it could plummet by up to 30%, sinking the price to a chilling $3.60!
Whatâs more, the ongoing news surrounding Durovâs situation is creating uncertainty in the market. Should more negative developments arise, the entire #TON ecosystem, including NOT and DOGS, could suffer brutal drops. However, if positive news breaks, these assets could skyrocket, reversing the trend.
The market is tenseâbrace yourself for whatâs coming! â ïž
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