Toncoin

STON.fi

Notcoin

Hamster Kombat

Toncoin (TON), a cryptocurrency native to the <a href="https://telegram.org/" rel="noopener noreferrer nofollow">Telegram ecosystem</a>, continues to experience downward pressure despite active network developments. As of today, TON is trading at $5.36, showing some recovery from a sharp fall to $5.10 on October 3. This marks a significant decrease from its earlier highs around $6, with the bearish trend persisting across the broader market, driven in part by volatile market conditions.<h3 id="strong-toncoin-price-struggles-amidst-market-volatility-strong">Toncoin Price Struggles Amidst Market Volatility</h3>In the past week, Toncoin has faced a considerable drop from its $6 threshold, hitting $5.1 at one point, before bouncing back to the current price of $5.36. The cryptocurrency market has been impacted by broader risk-averse sentiments, leading to fluctuations in <a href="https://icogemhunters.com/bitcoin-etfs-bleed-361-million-in-3-days-is-crypto-crashing/" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum prices. Notably, Bitcoin is trading above $61,000, providing some stability, but altcoins like Toncoin are still struggling to find support.The bearish momentum for Toncoin can be linked to technical patterns such as the death cross, where the 50-day EMA crossed above the 20-day EMA. This signaled an extended bearish phase that could further push TON’s price down to support levels around $4.63, especially if bulls fail to defend the $5 mark.<h3 id="strong-network-growth-fails-to-stabilize-price-strong">Network Growth Fails to Stabilize Price</h3>Despite the ongoing price drop, Toncoin’s network has witnessed increased activity, notably due to the <a href="https://icogemhunters.com/hmstr-token-launches-tomorrow-will-it-ignite-the-next-crypto-bull-run/" rel="noopener noreferrer nofollow">Hamster Kombat</a> airdrop on September 26, which triggered over a million transactions in just an hour. However, this surge in transactions has not been enough to counterbalance the selling pressure.Market analysts predict that without significant buying interest, Toncoin could continue to fall. The RSI remains neutral at 43, suggesting that further bearish action is likely if TON fails to break through key resistance at $5.68. On-chain data also revealed an increase in realized losses, further hinting that investors are losing confidence in an immediate price recovery.<h3 id="strong-what-s-next-for-ton-strong">What’s Next for TON?</h3>The daily MACD indicator shows cautious bullish potential, but unless bulls reclaim the $5.68 resistance level, a move toward $4.89 or $4.63 could be inevitable. On the flip side, breaking the $5.68 mark could see Toncoin rally back to $6.69, providing some hope for a price rebound.In the meantime, broader market sentiment, led by Bitcoin&#39;s performance, will likely play a crucial role in determining the future trajectory of TON. With Bitcoin hovering above $61,000, any significant changes in market dynamics could either provide a reprieve for Toncoin or push it further down.Disclaimer: This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.Source: <a href="https://icogemhunters.com/ton-price-nosedives-could-it-fall-below-5-again/" rel="noopener noreferrer nofollow">ICOGemHunters</a>

TON Price Nosedives—Could It Fall Below $5 Again?

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