Toncoin (TON) may fall by 30 percent: Signal arrived

#Toncoin (TON) fell by over 25 percent after Telegram founder Pavel Durov was arrested on August 25. TON, which increased by 15 percent with the rise of Bitcoin on September 9, pleased its investors, but the danger is not over. Despite the recovery in the parity, a technical indicator shows that Toncoin may continue its downtrend.

Although the #TON price has been on a recovery trend for the last few days, this movement can be considered as part of the inverted cup and handle structure. The inverted cup and handle is a formation that shows a downtrend.

It is usually seen when the price falls below the neckline support and falls to the maximum distance between the peak of the cup and the neckline. Regaining the neckline as support will invalidate the inverted cup and handle structure.

Based on the news flow regarding Pavel Durov, a short-term decline in the parity can be expected. The inverted cup and handle structure also supports this. According to the technical structure, the pair may face a 30 percent drop. This possible drop means that the current price of $TON will fall to $ 3.60.

In this process, the news flow will also be decisive for the price. Developments regarding Telegram founder Pavel Durov will directly affect the #TON ecosystem. In the event of negative news, the ecosystem's popular coins TON, NOT and DOGS may face sharp declines. In the opposite scenario, these coins may recover faster.