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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-sell-toncoin-after-price-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell Toncoin After Price Drop</a><br></p>
<p style="text-align: justify">Toncoin (TON) has seen a significant decrease in its price following the recent detention of Telegram’s founder, Pavel Durov, in France. Last week, TON, which had demonstrated solid performance against <a href="https://en.bitcoinhaber.net/imminent-decision-on-bitcoin-etfs-by-sec-could-transform-crypto-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and had visibly recovered, plummeted below $6. The decline has been primarily attributed to <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">long-term investors</a> who have started offloading their TON holdings, resulting in substantial devaluation for those who purchased at higher prices.</p>
<h2 id="why-are-toncoin-investors-selling">Why Are Toncoin Investors Selling?</h2>
<p style="text-align: justify">The recent events have led to a clear price decline for Toncoin. Long-term investors, who previously retained their holdings, started selling off their TON assets after Pavel Durov’s detention. This shift in investor sentiment has had a noticeable impact on the market.</p>
<h2 id="what-caused-the-price-drop">What Caused the Price Drop?</h2>
<p style="text-align: justify">The importance of long-term investors in the market becomes evident when we consider their resistance during bearish phases. The sales by these investors are believed to be a major factor contributing to the price drop of TON. Approximately 647 million TON tokens, previously purchased, have now become unprofitable, with purchase prices ranging from $5.45 to $6.10, according to the Global In/Out of the Money indicator.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Consider monitoring the price levels between $5.45 and $6.10 for potential buy-in opportunities.<br> – Evaluate market sentiment and <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> events, such as key figures’ legal issues, before making investment decisions.<br> – Be aware of the impact of long-term investors’ actions on the market, particularly during times of significant price changes.</p>
<p style="text-align: justify">The substantial portion of the Toncoin supply, estimated at over $3.57 billion, becoming unprofitable highlights the extensive impact of the recent sales. This sharp decline has caused individual investors to perceive a downward trend and has led to increased scrutiny and questioning of the market’s direction.</p>
<h2 id="how-much-will-ton-be">How Much Will TON Be?</h2>
<p style="text-align: justify">Over the past three days, Toncoin’s price has dropped by 16.5% and is currently trading at $5.61. The downward trend line has also been broken. Presently, TON is trading above the support level of $5.49 and may experience a recovery, depending on the market’s support. The current scenario suggests potential consolidation between $5.49 and $6.04.</p>
<p style="text-align: justify">If upward momentum reappears, TON could surpass the resistance level of $6.04, indicating a partial recovery from the recent 16% drop and potentially invalidating the downward trend.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-sell-toncoin-after-price-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell Toncoin After Price Drop</a></h5>

Investors Sell Toncoin After Price Drop

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