Token dips as the ‘double top’ pattern potential signs of short -term bearish trend
The recent price action reflects Ton’s struggle to maintain stability, with a failed breakout attempt at $ 3.22 followed by accelerated sale at the time of trade peak, according to the CoinDesk Research’s technical review model.
The move came as the wider gauge of the market, CoinDesk20 index, remained flat.
Technical indicators paint a potential bearish picture in short -term timeframe while developing lower highs and lower lows suggests developing bearish momentum.
The destruction of the $ 3.16 level of support, confirmed by the sale of high volume, opened the door with further potential collapse as economic economic tension continues to reshape investors’ priorities in both traditional and cryptocurrency markets.
Technical assessments
• Breakout failed attempt at $ 3.22 resistance level, followed by still -consistent sales pressure.
• Accelerated sale with a more average volume.
• Noteworthy supports appeared at $ 3.16, where consumers had previously walked with a strong volume.
• Building lower highs and lower lows because denial of $ 3.22 suggests bearish momentum.
• A short -term duplicate top pattern formed at the level of $ 3.18 before breaks.
• High sales volume pushed prices up to $ 3.16, confirming the destruction of the $ 3.16 support level.
• 1.2% price swing within the time shows increasing inadequacy in the market.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
