Double Top Formation in TON Chart Raises Red Flags for Bulls

TON Weakens as Bearish Pattern Emerges; Traders Watch for Breakdown Confirmation

Toncoin (TON) lost ground on Tuesday, falling below a key short-term support level after failing to establish a foothold above $3.22. The drop follows a rejection at recent highs and increasing signs of technical weakness.

CoinDesk Research’s technical model identified a clear double top pattern forming around $3.18–$3.22, with the failure to maintain momentum triggering a break below $3.16 — a level that previously acted as intraday support.

The move was accompanied by a spike in sell volume, suggesting traders are repositioning amid a weakening trend. TON also registered a notable 1.2% hourly swing, pointing to growing intraday volatility and trader sensitivity to structural shifts.

With a series of lower highs and lower lows now in play, short-term sentiment has flipped bearish. Market participants are closely watching the $3.10–$3.12 range for signs of stabilization. A decisive breach below this level could accelerate selling pressure.

Despite muted action across the broader market — the CoinDesk 20 Index was little changed — TON’s technical breakdown stands out, prompting caution among bulls as momentum shifts in favor of sellers.