bullish

Toncoin

Resistance

<p>The post <a href="https://coinpedia.org/price-analysis/toncoin-price-faces-major-plunge-ton-price-to-hit-5/" rel="noopener noreferrer nofollow">Toncoin Price Faces Major Plunge! TON Price To Hit $5?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Despite increased bullish sentiment in the crypto market, the Toncoin price has experienced a significant drop in its valuation over the past week. The prime reason for this is considered to be the arrest of Telegram’s CEO Pavel Durov.</p>
<p>With questions like “How low will Toncoin price go?” and “Will TON price rise back up?’ on a constant rise. Dive in as, in this article, we have covered the market sentiments, price analysis, and possible short-term price targets of the Toncoin (TON) crypto token.</p>
<h2 class="wp-block-heading" id="h-ton-crypto-price-fails-to-break-its-resistance-trendline">TON Crypto Price Fails To Break Its Resistance Trendline:</h2>
<p>The <a href="https://coinpedia.org/price-prediction/toncoin-ton-price-prediction/" rel="noopener noreferrer nofollow">Toncoin price</a> formed a symmetric triangle pattern in the 1D time frame and has continued to trade within it since mid-July. This indicates a weak bullish sentiment for the altcoin in the crypto space.</p>
<figure class="wp-block-image"><img decoding="async" width="1432" height="757" src="https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452.png" alt="Toncoin Price targets 26th aug 2024" class="wp-image-342852" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452.png 1432w, https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452-300x159.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452-1024x541.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452-768x406.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/26175900/image-452-150x79.png 150w" sizes="(max-width: 1432px) 100vw, 1432px">
</figure>
<p>In spite of recording a jump of approximately 1% in the past day, the Toncoin price has plunged 16.33% over the past week and 17.26% over the past 30 days. However, the altcoin has managed to hold its position as the 10th largest cryptocurrency with a market cap of $14.29 Billion.</p>
<h2 class="wp-block-heading" id="h-toncoin-market-sentiments">Toncoin Market Sentiments</h2>
<p>The SMA indicator has recorded a bearish convergence in the 1D time frame. This indicates an increase in the selling pressure.</p>
<p>Further, the RSI has failed to hold its value above the mid-point. On the other hand, its average trendline displays a bearish action in its price chart. This suggests that the altcoin will continue trading under a bearish sentiment.</p>
<h2 class="wp-block-heading" id="h-will-ton-price-reclaim-6-5">Will TON Price Reclaim $6.5?</h2>
<p>If a bullish reversal occurs, the Toncoin price will head toward its resistance level of $6.415. Further, if the market continues to gain momentum, the altcoin will prepare to test its upper resistance level of $7.680 in the coming time.</p>
<p>Conversely, if the bears continue to dominate the crypto market, the TON price will plunge toward its low of $5.155 this month.</p>

Toncoin Price Faces Major Plunge! TON Price To Hit $5?

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