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Toncoin Bounces Back to Previous Price Levels After Recent Turmoil

Author: Content Editor
During this week, the cryptocurrency market experienced fluctuations in prices, with bitcoin and other digital assets trying to overcome the bearish sentiments from the last few weeks of August. However, there was a recent price recovery for bitcoin and altcoins. Toncoin, a cryptocurrency based on the messaging app Telegram, has sustained its bullish turn over the week and regained its previous price levels. It recorded a 2.99% price increase in the last 24 hours and is currently trading at $5.72. Toncoin had previously dropped in price when Telegram co-founder Pavel Durov was controversially arrested in France, but it has since bounced back. Durov was arrested on August 25 for alleged criminal activity in the messaging app. Toncoin's weekly performance shows a 22.95% price increase, with prices steadily climbing throughout the week. The short-term Moving Average is above the long-term Moving Average, indicating a bullish trend, and the Relative Strength Index (RSI) suggests a slightly overbought situation. Additionally, the TON network experienced block outages after the launch of the memecoin DOGS.

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