Toncoin (TON) took a big hit, falling over 25% after Telegram founder Pavel Durov’s arrest on August 25. Despite a 15% rise with Bitcoin’s rally on September 9, the danger isn’t over yet. A technical signal suggests that TON may still be heading for a downtrend.
This recent recovery could be part of an **inverted cup and handle** formation—a sign of further decline. If TON loses its support at the neckline, it could drop by as much as 30%, bringing the price down to **$3.60**.
News surrounding Pavel Durov is critical right now. If more negative updates come out, coins like TON, NOT, and DOGS may face sharp declines. On the flip side, positive news could fuel a quicker recovery.
Stay cautious and watch for the next move in the market!
