Toncoin (TON) was one of the projects that left its mark on cryptocurrencies in 2024, and made significant price movements that would allow it to move into the top 10. During this period, TON was seen to rise to $ 8.24. Telegram also had a great impact on the rise, as the founder of Telegram in the past weeks Pavel Durov With his arrest, things took a complete turn for the worse. Today, according to analysts, things could get even worse.
Toncoin (TON) and Analyst Comments
TON, which entered the top 10 altcoins in the past period and has remained in this ranking for a while, has seen its price decline become more severe, especially after Telegram founder Pavel Durov was detained in France. Before the news, TON was seen to be pushing the $7 level, but everything changed in an instant after that. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
This decline in TON did not go unnoticed by analysts. First of all, one of the well-known analysts of the market, Ali Martinez When we look at the post he made on X, it is seen that a head and shoulders formation has formed, which brings with it the fear that the decline may deepen.
According to the analyst, in the scenario where TON fails to regain the support level at $ 4.70, a scenario where it falls to $ 2.60 due to a 45% price correction may occur, which was last seen in March 2024.
On the other hand, another name of the market WiseAnalyze also expressed his views on TON and emphasized the liquidity pool located under the $ 4.60 level. According to the analyst, if the price cannot hold at this level, the area between $ 3.8 and $ 4 can be examined as levels where re-evaluation can be made for purchases in the name of new entries.
How Many Dollars is TON?
TON, which has increased by 147% in the last 1 year, does not look very encouraging in its 7-day and 24-hour performances. While TON’s 7-day price movement indicates a decrease of over 16%, it is seen that it has decreased by 8% in the last 24 hours.
After the fall TON The price fell to $ 4.60 and remained in the area mentioned by both analysts. It would not be wrong to say that the general structure of the market also had an impact on this price movement. In addition, the market volume remains at $ 11.6 billion, while the transaction volume is at $ 371 million after a 33.5% increase.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
