The cryptocurrency Toncoin is experiencing a significant downward trend following the arrest of Telegram CEO. It has dropped 22.70% in the past 7 days and has broken below its crucial $4 support level. The current price is at $3.78, with a 2.71% drop in the past 24 hours. The weekly chart shows a bearish breakout from a bullish flag pattern, with a 17.64% drop last week. The MACD and signal lines are showing a negative crossover, reinforcing bearish sentiment. However, there is a potential bullish opportunity with a descending triangle pattern forming in the 4-hour chart. If Toncoin manages to surpass key resistance levels, a significant recovery may occur. Conversely, if the descending triangle breaks down, Toncoin could drop further towards the $3 support level. Additionally, declining whale confidence, as shown by the movement of 1.43 million Toncoin out of whale wallets, suggests a weakening long-term sentiment and the possibility of breaking below key support levels.



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