Toncoin Dips as Analysts Eye Double Top Pattern for Near-Term Weakness

Toncoin Faces Technical Breakdown After Failing to Hold Key Resistance

Toncoin (TON) extended its retracement on Tuesday, slipping below the critical $3.16 support level after a failed attempt to break above $3.22. The rejection at that resistance area has triggered renewed bearish momentum, exacerbated by high-volume selling.

Technical indicators now suggest short-term weakness. A double-top pattern formed near $3.18, confirmed by a sequence of lower highs and lower lows. CoinDesk Research reports a 1.2% hourly price swing, reflecting elevated intraday volatility.

Despite flat performance across the CoinDesk 20 Index, TON decoupled to the downside, pointing to asset-specific pressure rather than market-wide selloffs.

Key levels to monitor include:

• Immediate support: $3.10–$3.12
• Breakdown risk: Below $3.10 opens room for decline toward $2.98
• Resistance to reclaim: $3.18 to negate the bearish setup

Unless price action recovers swiftly, TON could remain under pressure in the near term as technicals and volume dynamics favor continued consolidation or further downside.