Toncoin (TON) has fallen sharply to $2.95 at the time of writing, posting a 4.58% decline over the past month, according to CoinMarketCap.
The drop comes as trading volume plummeted by over 57% in the last 24 hours, with market cap slipping to $7.28 billion. Now, technical analysts are warning of more downside risk.
Crypto analyst Ali Martinez flagged a concerning development: TON appears to be breaking below a long-forming symmetrical triangle pattern on the daily chart.
According to his analysis, this breakdown could pave the way for a deeper correction — potentially pushing TON down toward the $2.00 support level.
Price Structure Breakdown
The triangle pattern has been building since mid-February and recently converged into a narrowing range between $3.60 and $2.80. With the latest breakdown confirmed below $3.00, price action now favors a bearish continuation unless buyers reclaim the trendline.
The chart pattern suggests waning momentum and shrinking volatility, both of which often precede explosive moves. In this case, the break to the downside could trigger increased selling as traders react to the failure of support.
Market Fundamentals
Market Cap: $7.28B (down 1.88%)
24-Hour Volume: $128.9M (down 57.28%)
Circulating Supply: 2.46B TON out of a total 5.13B
FDV (Fully Diluted Valuation): $15.15B
The combination of declining volume, weakening sentiment, and technical breakdown all point to further bearish pressure unless market conditions shift quickly.
Key Levels to Watch
- Immediate Support: $2.80
- Major Support Zone: $2.00
- Resistance to Reclaim: $3.15–$3.30 for trend reversal
With sentiment cooling and a bearish chart structure in play, traders should monitor TON closely. If the $2.80 level fails to hold, the market could accelerate toward $2.00 — a psychological and technical zone that may determine whether Toncoin stabilizes or enters a prolonged downtrend.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/toncoin-how-low-can-the-price-go-after-dropping-below-3/