Test

Toncoin

<ul class="wp-block-list">
 <li>Toncoin teeters near critical support at $5.17. A breakdown could lead to a 7.16% drop, with a target of $4.66. Stay alert.</li>  
 <li>Traders eye Toncoin's next move, as a descending triangle pattern, suggesting a potential price drop below $5.17.</li>  
 <li>While Toncoin struggles, $OTON surged by 275.68%, with other TON tokens like $ARBZ and $THNG also seeing impressive gains.</li> 
</ul>  
<p>On the <a href="https://x.com/TheMoonCarl/status/1843562333454344672" target="_blank" rel="noopener noreferrer nofollow">4-hour chart</a>, Toncoin is getting near to a potential breakdown from a descending triangle formation. As the price gets closer to the crucial $5.17 support level, it is exhibiting symptoms of weakness. The price is trading between $5.30 and $5.17.</p>  
<p>A decline towards $4.66 could occur if it closes below this level. There is a chance that this important support area will decrease by 7.16%. The descending triangle pattern signals a bearish movement, making this a crucial moment for TON.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/TheMoonCarl/status/1843562333454344672
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-potential-breakdown-and-price-target">Potential Breakdown and Price Target</h2>  
<p>The descending triangle pattern visible on the chart indicates that a downward trend may be in play. With the price consolidating in a tight range, there is a growing risk of a breakdown below the $5.17 support level.&nbsp;</p>  
<p>If this occurs, the next support zone is around $4.79, which may act as a buffer before the <a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow">price</a> hits the projected target of $4.66. The compressed price action and steady volume suggest that traders are anticipating a move, with much attention focused on the $5.17 level.</p>  
<p>Besides, the <a href="https://cryptonewsland.com/doge-chart-indicates-near-breakout/" target="_blank" rel="noopener noreferrer nofollow">price compression within the triangle indicates</a> that a breakout or breakdown is imminent. Hence, traders are advised to stay cautious, as a break below $5.17 could quickly lead to further losses.</p>  
<h2 class="wp-block-heading" id="h-best-performing-ton-tokens-see-major-gains">Best-Performing TON Tokens See Major Gains</h2>  
<p>While Toncoin faces bearish pressures, some tokens on the TON blockchain have been performing exceptionally well. According to recent <a href="https://x.com/DegenonTON/status/1843933174893818177" target="_blank" rel="noopener noreferrer nofollow">data</a>, $OTON saw the largest increase on the STON.fi platform, rising by 275.68%. Other top performers include $ARBZ with a 73.1% gain, $THNG up 23.93%, and $TROOP with a 21.25% rise. Additionally, tokens like $PLANE and $RECA posted gains of 6.71% and 6.44%, respectively.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/DegenonTON/status/1843933174893818177
 </div>
</figure>  
<p>Moreover, DeDust also reported price increases. $ARBZ led with a 73.1% rise, followed by $FWT and $TONY, which surged by 23.4% and 18.21%, respectively. These substantial gains highlight growing market interest in <a href="https://cryptonewsland.com/ton-blockchain-partners-with-animoca-brands-for-consumer-network-expansion/" target="_blank" rel="noopener noreferrer nofollow">TON blockchain tokens</a>, even as TON itself struggles at critical price levels.</p> 
<p>The post <a href="https://cryptonewsland.com/ton-faces-critical-support-test-amid-descending-triangle-pattern/" rel="noopener noreferrer nofollow">TON Faces Critical Support Test Amid Descending Triangle Pattern</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

TON Faces Critical Support Test Amid Descending Triangle Pattern

Table of Contents

Crypto News Land

Other articles published on Oct 10, 2024

Suirum: The Sui Memecoin Analysts Predict Will Leave Fud The Pug & $AXOL in the Dust

ZetaChain introduces instant rewards, moves beyond airdrops

What is Saga (SAGA) Coin?

Cybercriminals Target Devices for Cryptocurrency Theft

Market makers sent $100M in stablecoins to exchanges

Binance's 60th Launchpool Project: What is Scroll?

Join our free newsletter for daily crypto updates!