$TON 's 13% drop: What happened and can TON bounce back? - AMB Crypto Analytics

Irma - Sep 8 - - Dev Community

Toncoin's price dropped by 3.37% to $4.69, continuing a week-long decline of 13%. After rejecting the $4.88 resistance level, bearish momentum is increasing, with a potential decline to $4.51 or further to the $3.66 support level if the trend continues.

Whale activity has risen by 8.8%, signaling institutional interest or possible sell-offs. A significant outflow from exchanges suggests investors may be expecting a recovery, despite short-term volatility. The growing liquidation pool at $4.51 could pressure prices downward if Toncoin nears that level.

The stochastic RSI hints at a possible bullish reversal, though it hasn't fully materialized yet. Holding above key support levels could lead to recovery, but failure might trigger further declines.

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