Toncoin (TON) Crashes Below $3 After 8% Sell-Off

Global economic tensions and changing trade policies continue to create volatility on the markets of cryptocurrencies, while Ton is experiencing significant pressure down.

The recent token price action has created a descending channel with consecutive maximums and mines, breaking down below the key support level.

Meanwhile, competitive blockchain projects are taken care of because investors are looking for alternatives in the market uncertainty, with some analysts projecting potential recovery for TON if they can establish support at current levels.

Emphasizing technical analysis

• Ton created a descending channel with a consecutive lower maximum and lower minimums in the last 24 hours.
• The price broke below the critical level of psychological support of $ 3.00 in hours 9-12 on a high volume (3.96 m), which indicates a strong sales pressure.
• The remarkable volume tip (4.43 m) during the final trading hour indicates potential surrender.
• The modest reflections from the absolute minimum of $ 2.89 to close $ 2.94 may indicate the support.
• The $ 2,88-2,90 zone is now a key area to monitor the potential trend.
• The V -shaped formula created a V -shaped in the last hour with strong momentum and broke the psychological level of $ 2.90 on a growing volume.
• Between 13: 36-13: 38 there was a significant bull pulse, which increased the price by 3.6%to determine the new local maximum nearly $ 2.94.
• Despite the profit near the level of resistance $ 2.95 around $ 13: 48-13: 49, TON maintained support over $ 2.93.

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