Is $TON Setup for a Deeper Correction? Key Levels to Watch 📉
The recent price action on Toncoin (TON) points to a clear shift in market momentum.
After testing local resistance, the charts are displaying a classic bearish structure. We are seeing a distinct pattern of lower highs and lower lows, indicating that buyers are losing their grip.
Support Breach: The price has fallen below the immediate minor consolidation zone.
Target Zone: Momentum suggests a strong gravitation toward the lower horizontal demand level marked on the chart.
Fundamental Headwind: With a massive $103M token unlock scheduled for May 24, selling pressure is expected to intensify as fresh supply enters the market.
If the current psychological support completely breaks, we could see a rapid test of lower structural demand. Trade safely and manage your risk.
#TON #TechnicalAnalysis #writetoearn
