Reserve

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/telegrams-ton-coin-hits-yearly-high" data-wpel-link="internal" rel="noopener noreferrer nofollow">Telegram’s TON Coin Hits Yearly High</a><br></p>
<p style="text-align: justify">Recently, Telegram’s TON Coin achieved a significant milestone by reaching its highest value of the year. The popular messaging app, which boasts hundreds of millions of users, has seen substantial daily active user numbers. Given its heavy usage by cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, the app’s foray into the crypto <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">space</a> was anticipated to yield notable outcomes. Indeed, backed by Telegram, the TON Coin soared to a peak of $7.54.</p>
<h2 id="what-drives-ton-coin-s-value">What Drives TON Coin’s Value?</h2>
<p style="text-align: justify">The surge in TON Coin’s price, which occurred on June 6 before <a href="https://en.bitcoinhaber.net/bitcoins-volatile-journey-peter-schiffs-cautious-outlook-amid-etf-speculation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s decline, can be attributed to the support from NOT Coin and the long-term benefits Telegram offers to the project. Investors are optimistic, yet the risks associated with the concentration of supply in a few wallets cannot be overlooked. Currently, the TON Coin is priced at around $7.03, a 7% drop from its peak, reflecting a decline in active and new addresses.</p>
<h2 id="will-ton-coin-sustain-its-momentum">Will TON Coin Sustain Its Momentum?</h2>
<p style="text-align: justify">The price, which initially gained momentum due to robust network activity, is now facing challenges due to a decrease in on-chain activity. Active addresses have dropped by 10%, and new address creation has declined by nearly 20%. This weakening user demand could lead to a deeper price correction, signaling a cautious outlook for investors.</p>
<h2 id="market-insights-and-investor-takeaways">Market Insights and Investor Takeaways</h2>
<p style="text-align: justify">Key insights for investors include:</p>
<ul>
 <li>The current RSI level is at 58, indicating selling pressure.</li>
 <li>TON Coin’s price needs to maintain higher highs and lows to sustain its upward trend.</li>
 <li>A pullback to $6.8 is possible, with potential declines to $6.41 if the support fails.</li>
 <li>The MACD indicator shows bearish signals, suggesting further downside risk.</li>
</ul>
<p style="text-align: justify">These insights are crucial for making informed investment decisions.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">For now, investors should be mindful of the potential for significant negative movements, especially in light of the upcoming Federal Reserve meeting. Setting appropriate stop-loss zones and closely monitoring market signals can help mitigate risks and safeguard investments in TON Coin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/telegrams-ton-coin-hits-yearly-high" data-wpel-link="internal" rel="noopener noreferrer nofollow">Telegram’s TON Coin Hits Yearly High</a></h5>

Telegram’s TON Coin Hits Yearly High

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