Toncoin (CRYPTO:TON) surged to $7.54 on June 6 but has since experienced a nearly 10% decline, now trading at $7.03.

This drop is attributed to decreased buying momentum, evidenced by a decline in daily active addresses and new address creation.

The falling Relative Strength Index (RSI) suggests increased selling pressure, potentially leading to further price declines.

TON's technical analysis indicates potential support levels around $6.8, with the Moving Average Convergence Divergence (MACD) hinting at a downward trend.