CandleFocus Toncoin (TON) Faces Bearish Push Toward $4.42 as Sellers Dominate
2024-10-10
Author: Content Editor
Toncoin (TON) has experienced a price drop, declining by 4% in the past week to trade at $5.11. On-chain data reveals a decline in network activity, with a decrease in daily active and new addresses, large transaction counts, and profit-making transactions. This suggests a decline in demand for TON, which could lead to further price drops. Some key holders have left the market, as shown by a decrease in large transactions. The current price of TON is just below the support level at $5.25, indicating a potential continuation of the downward trend. However, if market sentiment changes and demand surges, TON's price could rise above support levels and move towards the next resistance at $6.81.
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