Toncoin's market activity has declined sharply, with trading volume dropping 18% to approximately $108 million, as the cryptocurrency approaches a significant $49.37 million token unlock. Scheduled for April 23, the unlock represents about 1.47% of the circulating supply and is intended to reward long-term participants. However, the timing coincides with weakening market conditions, raising concerns about its impact on price stability. Technical indicators suggest growing bearish momentum, with a death cross formation and sell signals from the Parabolic Stop and Reverse (SAR) indicator. These patterns indicate potential for sustained downside pressure, as Toncoin's price action mirrors previous declines. The market has already distributed over 93.4 million TON, reinforcing sell-side pressure. If bearish conditions persist, Toncoin risks testing key support levels and potentially revisiting February 2026 lows.