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News / Technical Analysis / Toncoin Rebounds 15%, But Bearish Pattern Suggests Possible Drop to $3.60

Toncoin Rebounds 15%, But Bearish Pattern Suggests Possible Drop to $3.60

Published: 10.09.2024
Toncoin (TON) has bounced back 15% from its September 6 low, reflecting global stock market gains amid speculation about a Federal Reserve rate cut. However, a cup-and-handle breakdown pattern on TON’s daily chart suggests potential further declines unless it overcomes key resistance. If the bearish trend continues, TON could fall to $3.60 by October, representing a 30% drop from current levels.
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