- Toncoin has broken below a symmetrical triangle pattern, signaling potential downside.
- Analyst Ali identifies $1.90 as a likely price target using Fibonacci analysis.
- Despite short-term rebounds, Toncoin shows increased volatility and weakened bullish strength.
Toncoin ($TON) is grabbing investor attention as bearish signals mount and price volatility intensifies. Once trading comfortably above $3, the digital asset now hovers near $2.81, raising concerns of a deeper correction ahead.
With prominent analyst Ali warning of a potential drop toward the $1.90 level based on key technical patterns, traders are watching closely for the next move. As market sentiment teeters, Toncoin’s position in the top 20 crypto assets adds further weight to its unfolding price story.
Bearish Technical Breakdown Fuels $1.90 Forecast
According to Ali, a prominent crypto analyst on X, Toncoin ($TON) is exhibiting a bearish technical setup that could see its price decline further toward the $1.90 mark. The chart shared by Ali shows a symmetrical triangle pattern that has recently been broken to the downside, suggesting a continuation of the downtrend. The breakdown comes after months of sideways consolidation between $2.80 and $3.40, signaling that the bulls have lost control and that momentum may be shifting toward the bears.
Ali supports this bearish outlook using Fibonacci retracement levels drawn from the February high near $4.84. With the price currently hovering around $2.80 and having already breached key support levels, the next significant Fibonacci extension target lies near the $1.90 level—highlighted as a “magnet” for price action. If bearish pressure persists, Toncoin could be on track to test this level in the near future, barring any sudden shift in market sentiment.
Market Metrics Reflect Caution as Volatility Rises
Toncoin ($TON) is trading at $2.81 as of the latest update, showing a marginal 0.41% decline over the past 24 hours, according to data from CoinMarketCap. Nevertheless, the cryptocurrency has shown significant intraday volatility as it lost a little money in the drop under the mark of 2.76 to recover steadily during the day.
Toncoin has a moderate liquidity profile with a market cap of 6.95 billion and a 24-h trading volume of 148.4 million. It has a circulating supply of 2.46 billion TON and a total supply of 5.13 billion, containing some of the properties of a high-cap asset in the top 20 ranking.
