TON is about to face a crucial test at the support level in the descending triangle pattern.
Toncoin is currently hovering near the crucial support level of $5.17. If broken, the price could drop as much as 7.16%, taking the target to $4.66. This is the time when traders need to be especially vigilant.
Toncoin is moving within a descending triangle pattern, indicating a strong bearish potential if it breaks below $5.17. On the 4-hour chart, the price is hovering between $5.30 and $5.17, showing signs of weakening. If this support level is broken, the price is likely to drop to the $4.66 area, representing a 7.16% drop. This descending triangle pattern predicts an important bearish phase is about to take place for TON.
In addition, other tokens on the TON blockchain are having an explosive run. $OTON has surged 275.68%, along with $ARBZ up 73.1% and $THNG up 23.93%. This shows that while Toncoin is struggling, there are other tokens that have achieved significant success.
Overall, with the price compression in the triangle pattern, a strong move could be imminent. Traders should pay attention, as if the price breaks below $5.17, there is a chance of further significant losses. In this case, the next support zone could be $4.79, before reaching the ultimate target of $4.66.
