Toncoin (TON) price has been on a four-month downtrend, showing no sign of reversal as it struggles to hold above $5.0. Recent price action has underscored the ongoing weakness, raising concerns among investors. 

Despite intermittent rallies, TON has been unable to escape the bearish trajectory that began in June, pushing the price below critical support levels and possibly priming it for further declines.

New Investors Lose Interest in Toncoin 

Toncoin’s network growth has seen a significant dip, with adoption hitting an eight-month low. This indicator, which gauges the number of new addresses created, is vital in assessing whether a cryptocurrency is gaining or losing market interest. The current decline implies that fewer new investors and users are joining the TON ecosystem, suggesting diminishing confidence.

When fewer new addresses appear, it generally signals waning adoption, which could contribute to downward price pressure. As long as this trend persists, TON may struggle to find a strong base, leaving its price susceptible to further depreciation.

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Analyzing the macro trend reveals that Toncoin’s overall momentum remains bearish. The Average Directional Index (ADX) currently sits just below the 25.0 mark, a critical threshold that indicates trend strength. If the ADX breaches above 25.0, it signals a strengthening active trend. For Toncoin, this would mean intensifying bearish momentum.

The ADX has yet to confirm an uptick, but if it does, the active downtrend could accelerate. A strong ADX reading over 25.0 would indicate that the ongoing se

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Author: Aaryamann Shrivastava