Toncoin (TON) has fallen below the critical support level of $3.00, experiencing a 7.55% decrease from $3.18 to $2.94 within 24 hours. Despite a slight recovery indicated by a V-shaped reversal pattern, where the price gained 1.4% from $2.89 to $2.93, the token faces significant selling pressure due to global economic volatility and concerns surrounding its ecosystem. The recent price movements have established a descending channel with lower highs and lows, highlighted by a notable increase in trading volume, particularly during the break below the critical support level. As investors look for alternatives amid market uncertainties, analysts suggest that if TON can establish support around the $2.88-$2.90 zone, there could be potential for a trend reversal. The recent activity included a substantial volume spike in the last trading hour, signaling possible capitulation. Should TON maintain support above $2.93, it may indicate emerging recovery potential. The volatility in cryptocurrency markets remains influenced by economic tensions and rival blockchain projects gaining traction among investors.

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