🚨 Could Toncoin Drop Another 30% This Month?

After Toncoin’s sharp drop of over 25% following Telegram founder Pavel Durov's arrest, it’s managed to bounce back with a 15% recovery to $5.15. But this might not be the end of the story—technical indicators suggest more downside risks remain.

The Bearish Trap Toncoin's price movement forms a classic inverse cup-and-handle pattern, which often signals a bearish continuation. If Toncoin fails to reclaim its neckline support at $5, it could continue to tumble, potentially hitting a downside target of $3.60, which represents a 30% decline from current levels. This is crucial to watch as sellers may regain control if the price can’t push back above this level. 🚨

Crackdowns & Legal Pressure Toncoin’s price struggles are compounded by increasing global scrutiny against Telegram and its founder Pavel Durov. Countries like South Korea, India, and Indonesia are ramping up investigations and even considering blocking Telegram due to content moderation issues, further fueling negative sentiment around Toncoin. The EU is also reportedly investigating Telegram for false user data, adding to the pressure.

Whales Remain Unfazed Despite the bad press, Toncoin whales (those holding between 10 million–100 million TON) seem undeterred and have actually increased their holdings. Data from Santiment shows rising whale activity, suggesting that big investors are still confident in Toncoin’s long-term potential.

What to Watch For:

- If TON can break back above $5, the bearish pattern could be invalidated.

- A failure to reclaim that level may signal further declines toward $3.60.

- The global regulatory environment remains a significant risk for TON’s price.

Is this the dip before a bounce, or the start of more downside?
Drop your opinion below!

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