The two altcoins Cronos (CRO) and Toncoin (TON) are sending negative signals this week, as both have closed below important upward trend lines – a sign that the market structure may be gradually turning bearish. Current technical indicators show that the upward momentum is clearly weakening, and the risk of a deep correction, potentially reaching double digits, for both CRO and TON in the coming days is quite plausible.
The on-chain indicators of Cronos and Toncoin are leaning towards a downward trend
Data on supply distribution from Santiment shows that selling pressure is increasing in the Cronos market (CRO), as large wallets begin to offload. Specifically, the amount of CRO held by wallets with 10 million to 100 million tokens (blue line) has dropped sharply from 1.15 billion to 1.04 billion in just the period from Thursday to Tuesday.
In contrast to the regression trend of large whale groups, smaller wallets — including those holding between 100,000 and 1 million CRO (đường đỏ) and between 1 million and 10 million CROs (đường vàng) — are accumulating. Specifically, the holdings of these two groups increased from 140.07 million to 142.1 million and from 2.03 billion to 2.08 billion tokens, respectively.
However, the selling volume from large wallet groups still far exceeds the buying volume from smaller groups, leading to a net decrease in the total supply held and increasing selling pressure. This brings a negative outlook for the price of CRO in the short term.
! cro-ton-giam-giaCronos Supply Distribution Chart | Source: SantimentAnother gloomy signal comes from CRO's long/short ratio on the floor, with the index currently at 0.79 — the lowest level in more than a month. The ratio below 1 reflects the prevailing pessimistic sentiment, as the number of short (bán khống) positions outperforms the long (mua vào), indicating that the majority of investors are betting on the possibility that the CRO price will continue to fall.
The Long/Short ratio on the CRO exchange | Source: CoinglassNot only CRO, the situation is also not very optimistic for Toncoin (TON). According to on-chain data from the Artemis analytics tool, DEX trading volume on the TON network has continuously declined since the beginning of December, dropping to just 6.4 million USD as of Monday. This decline reflects a significant weakening of activity and liquidity on the TON blockchain — a sign that user and investor interest in this ecosystem is waning.
The price of Cronos (CRO) has broken the upward trend line – formed by connecting the lows since the end of February – and closed below this level on Friday, before continuing a slight downward trend on Saturday. By Monday, CRO's recovery momentum was quickly halted at the former trend line, coinciding with the resistance area of $0.092, turning this zone into a notable reversal point. As of the time of writing on Tuesday, CRO is trading around $0.090.
With the current technical signals, trend traders may consider opening a short position (Short) in the price range of $0.092–$0.095, with a stop-loss set slightly above the 50-day EMA at $0.096.
CRO/USDT daily chart | Source: TradingViewIf selling pressure continues to increase from the mentioned resistance zone, the adjustment momentum may be extended, causing the CRO price to retreat to retest the important support level at $0.080.
In terms of technical indicators, the daily RSI is oscillating at 38 – below the neutral threshold of 50, indicating that selling pressure is still dominant. At the same time, the MACD has also just crossed below the signal line last week, along with the appearance of extended red histogram bars below the 0 line – a clear signal of a downtrend.
However, if the price of CRO can close above the 50-day EMA at $0.096, the bearish scenario will be invalidated. In that case, buying pressure may be reactivated, creating an opportunity for CRO to challenge the peak from June 10th at $0.101.
Price forecast for Toncoin: The decline of TON continues to accelerate
Toncoin (TON) has broken the upward trend line that has lasted since mid-March and officially closed below this threshold last Friday, signaling weakness in the price structure. Immediately after, this coin dropped another nearly 3% the following day before entering a sideways phase around the level of $2.95. As of Tuesday morning, TON still maintains fluctuations around the range of $2.98.
For investors considering opening a short position (Short), the price range from $3.00 to $3.15 could be a potential entry zone. The stop-loss level should be set above the 50-day exponential moving average (EMA), approximately 2–3% above this threshold, which corresponds to the area of $3.15.
Daily chart of TON/USDT | Source: TradingViewIf the price continues to adjust from the above resistance zone, TON may face the risk of revisiting the bottom from April 14 at the level of $2.65.
Technical indicators are reinforcing the bearish scenario. On the daily time frame, the RSI is at 41 - below the neutral threshold of 50 - indicating that bearish momentum is still dominant. At the same time, the MACD formed a bearish crossover last week, accompanied by expanding red histogram bars below the 0 line, reflecting increasing selling pressure.
Conversely, if TON rises again and closes above the 50-day EMA at $3.15, the bearish scenario will be invalidated. At that point, this coin could resume its upward trend, with a short-term target being the previous peak on June 10 at $3.39.
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Cronos (CRO) and Toncoin (TON) fluctuate: Bearish signals make investors need to be cautious.
The two altcoins Cronos (CRO) and Toncoin (TON) are sending negative signals this week, as both have closed below important upward trend lines – a sign that the market structure may be gradually turning bearish. Current technical indicators show that the upward momentum is clearly weakening, and the risk of a deep correction, potentially reaching double digits, for both CRO and TON in the coming days is quite plausible.
The on-chain indicators of Cronos and Toncoin are leaning towards a downward trend
Data on supply distribution from Santiment shows that selling pressure is increasing in the Cronos market (CRO), as large wallets begin to offload. Specifically, the amount of CRO held by wallets with 10 million to 100 million tokens (blue line) has dropped sharply from 1.15 billion to 1.04 billion in just the period from Thursday to Tuesday.
In contrast to the regression trend of large whale groups, smaller wallets — including those holding between 100,000 and 1 million CRO (đường đỏ) and between 1 million and 10 million CROs (đường vàng) — are accumulating. Specifically, the holdings of these two groups increased from 140.07 million to 142.1 million and from 2.03 billion to 2.08 billion tokens, respectively.
However, the selling volume from large wallet groups still far exceeds the buying volume from smaller groups, leading to a net decrease in the total supply held and increasing selling pressure. This brings a negative outlook for the price of CRO in the short term.
! cro-ton-giam-giaCronos Supply Distribution Chart | Source: SantimentAnother gloomy signal comes from CRO's long/short ratio on the floor, with the index currently at 0.79 — the lowest level in more than a month. The ratio below 1 reflects the prevailing pessimistic sentiment, as the number of short (bán khống) positions outperforms the long (mua vào), indicating that the majority of investors are betting on the possibility that the CRO price will continue to fall.
The price of Cronos (CRO) has broken the upward trend line – formed by connecting the lows since the end of February – and closed below this level on Friday, before continuing a slight downward trend on Saturday. By Monday, CRO's recovery momentum was quickly halted at the former trend line, coinciding with the resistance area of $0.092, turning this zone into a notable reversal point. As of the time of writing on Tuesday, CRO is trading around $0.090.
With the current technical signals, trend traders may consider opening a short position (Short) in the price range of $0.092–$0.095, with a stop-loss set slightly above the 50-day EMA at $0.096.
In terms of technical indicators, the daily RSI is oscillating at 38 – below the neutral threshold of 50, indicating that selling pressure is still dominant. At the same time, the MACD has also just crossed below the signal line last week, along with the appearance of extended red histogram bars below the 0 line – a clear signal of a downtrend.
However, if the price of CRO can close above the 50-day EMA at $0.096, the bearish scenario will be invalidated. In that case, buying pressure may be reactivated, creating an opportunity for CRO to challenge the peak from June 10th at $0.101.
Price forecast for Toncoin: The decline of TON continues to accelerate
Toncoin (TON) has broken the upward trend line that has lasted since mid-March and officially closed below this threshold last Friday, signaling weakness in the price structure. Immediately after, this coin dropped another nearly 3% the following day before entering a sideways phase around the level of $2.95. As of Tuesday morning, TON still maintains fluctuations around the range of $2.98.
For investors considering opening a short position (Short), the price range from $3.00 to $3.15 could be a potential entry zone. The stop-loss level should be set above the 50-day exponential moving average (EMA), approximately 2–3% above this threshold, which corresponds to the area of $3.15.
Technical indicators are reinforcing the bearish scenario. On the daily time frame, the RSI is at 41 - below the neutral threshold of 50 - indicating that bearish momentum is still dominant. At the same time, the MACD formed a bearish crossover last week, accompanied by expanding red histogram bars below the 0 line, reflecting increasing selling pressure.
Conversely, if TON rises again and closes above the 50-day EMA at $3.15, the bearish scenario will be invalidated. At that point, this coin could resume its upward trend, with a short-term target being the previous peak on June 10 at $3.39.
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