Toncoin (TON) Faces Bearish Pressure as Trading Volume Hits Yearly Low

Toncoin (TON) is experiencing increased bearish momentum as its trading volume drops to the lowest level this year. The cryptocurrency has declined by 8.10% over the past month, with a further 0.79% drop in the last 24 hours, indicating sustained weakness.

Technical analysis shows TON hovering just above a critical support level at $2.80. A symmetrical triangle pattern suggests potential for either a breakout or breakdown, but current market momentum favors the bears. A red candle formation NEAR support signals weakening demand and rising selling pressure.

The market structure appears fragile, with declining volume threatening price stability. While symmetrical triangles often precede bullish reversals, the lack of buying interest raises doubts about TON’s ability to maintain its current price range.