CandleFocus What Awaits Toncoin (TON), Which Experienced a Huge Drop? Experienced Analyst Reveals Expected Price Levels!
2024-09-09
Author: Content Editor
Toncoin (TON) initially saw a decline in price after the arrest of Telegram and TON founder Pavel Durov, but the cryptocurrency has gradually recovered and regained its place in the top 10. In the last 24 hours, Toncoin has outperformed major cryptocurrencies with a 9% increase, while Bitcoin, Ethereum, and Solana have been trading sideways. Analysts believe there is further upside potential for Toncoin's price, with a possible retest of the $6.50 to $7.00 levels if market sentiment improves. However, if the overall environment remains unchanged, the price is expected to fluctuate between $5.00 and $6.00. It should be noted that Telegram holds a significant position in TON and contributes over 40% of its 2023 revenue. As of now, Toncoin is trading at $5.16.
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