Toncoin, associated with Telegram, has experienced a nearly 10% drop in value in the past week, indicating market weakness. The token is approaching a crucial support level within a horizontal channel established since March. If this support fails, there may be a significant further decline. The negative funding rate suggests a lack of trader confidence in a price rebound. A negative funding rate can lead to increased selling pressure, further driving down the price. The Directional Movement Index indicates a bearish trend, with sellers dominating buyers. Currently trading at $5.34, Toncoin may rally to $7.96 if the support holds, but could drop to $4.43 if it fails. This analysis serves as information only and not financial advice, urging readers to conduct their own research and seek professional guidance before making investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news