Toncoin

Momentum

PEPE

POPCAT

<p>Top crypto analyst, <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;">, has lately issued a warning against buying <a href="https://captainaltcoin.com/ton-network-breaks-the-record-with-new-active-users-will-toncoin-price-pump/" target="_blank" rel="noopener noreferrer nofollow">Toncoin (TON)</a> amidst its current bearish trend. Through a tweet, the analyst emphasized the potential risks tied to the ongoing uncertainty surrounding the TON network.&nbsp;</p>
<p>According to Crypto_Jobs, the price of Toncoin has experienced a decline, dropping by as much as 40%. Moreover, he notes that TON could face further downward pressure soon.</p>
<h2 class="wp-block-heading" id="strong-ton-s-trendline-breakdown-signals-bearish-sentiment-strong"><strong>TON’s Trendline Breakdown Signals Bearish Sentiment</strong></h2>
<p>The analysis provided by Crypto_Jobs focuses on <a href="https://coinmarketcap.com/currencies/toncoin/" target="_blank" rel="noopener noreferrer nofollow">Toncoin’s daily price action</a>, highlighting a critical shift from bullish to bearish sentiment. Initially, Toncoin had followed a steady upward trendline, indicating positive momentum.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TON</a> 18-06 vs today <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Another perfect alert &amp; a 40% dump given! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Charts never lie. it's as if people knew about Durov's arrest!<br><br>The current price remains bearish.<br><br>I wouldn't attempt a buy now with the news and uncertainty over TON network! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a0.png" alt="⚠" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>In the short term, the… <a href="https://t.co/n12IrrARZt" target="_blank" rel="noopener noreferrer nofollow">https://t.co/n12IrrARZt</a> <a href="https://t.co/2WrV7eYSie" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2WrV7eYSie</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1830336196171444522?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 1, 2024</a>
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<p>However, this trendline eventually broke down, signaling a reversal in market sentiment. The price attempted to recover but faced resistance at a descending trendline, forming a bearish continuation pattern known as a descending triangle.&nbsp;</p>
<p>The breakdown below this pattern’s lower boundary triggered a substantial sell-off, further solidifying the bearish outlook.</p>
<h2 class="wp-block-heading" id="strong-key-ton-price-levels-to-monitor-strong"><strong>Key TON Price Levels to Monitor</strong></h2>
<p>Crypto_Jobs identified several critical support and resistance levels for Toncoin. The price encountered strong resistance at the $7.70 level, which aligns with both horizontal resistance and the descending trendline.&nbsp;</p>
<p>On the downside, there’s immediate support located around $6.15 and $6.00. Moreover, these levels correspond to previous horizontal support zones and key psychological thresholds.&nbsp;</p>
<p>If these levels fall through, $5.60, $5.10, and $4.80 represent the following levels of support. The analyst has identified a lower support level of approximately $4.60, with an extended target of $3.80. This level could act as a potential price floor if the bearish momentum persists.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/this-bitcoin-indicator-points-to-more-selling-pressure-on-btc-price/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>This Bitcoin Indicator Points to More Selling Pressure on BTC Price</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-bearish-momentum-and-potential-further-decline-strong"><strong>Bearish Momentum and Potential Further Decline</strong></h2>
<p>The overall analysis indicates a strong <a href="https://coinpedia.org/price-analysis/ton-price-struggles-to-maintain-5-support-as-bearish-momentum-builds/" target="_blank" rel="noopener noreferrer nofollow">bearish momentum for Toncoin</a>. The inability to reclaim previous highs, coupled with the rejection at the descending trendline, suggests that sellers are currently in control.&nbsp;</p>
<p>Crypto_Jobs has projected a potential further decline, with the $6.00 region being a key level to watch. If this support level is breached, Toncoin could see its price fall toward $5.10 and $4.80, aligning with the analyst’s cautionary stance.</p>
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<p>The post <a href="https://captainaltcoin.com/expert-warns-against-buying-toncoin-now-shares-key-ton-price-levels-to-watch/" rel="noopener noreferrer nofollow">Expert Warns Against Buying Toncoin Now, Shares Key TON Price Levels To Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Expert Warns Against Buying Toncoin Now, Shares Key TON Price Levels To Watch

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