Toncoin (TON) Crashes Below Key $2.70 Support Amid UAE Golden Visa Controversy

Toncoin's price has plummeted below the crucial $2.70 support level following a credibility crisis triggered by the UAE government's denial of golden visa claims associated with the TON Foundation. ChatGPT's AI analysis indicates accelerating bearish momentum as institutional investors exit positions.

The cryptocurrency now trades below all major EMAs, with trading volume declining sharply amid increased regulatory scrutiny. Selling pressure intensified after misleading marketing claims surfaced, significantly damaging market confidence. While the RSI approaches oversold territory, it fails to indicate a reversal, reflecting ongoing fundamental concerns.

The erosion of market capitalization and broken technical patterns suggest further downside potential unless the $2.70 level is reclaimed. This scandal has highlighted leadership accountability issues and ecosystem reputation risks that may delay recovery efforts.