With 87.2% Of Investors Under Loss, TON & NOT Tokens Warns Major Crash? 💥
With the release of Pavel Durov, CEO of Telegram, top Toncoin ecosystem tokens have recorded a considerable bullish recovery over the past 2 days. Notably, top tokens such as Toncoin and Notcoin had dropped significantly following the arrest in August.
However, uncertainty continues to haunt its investors with over 87% experiencing losses. Moreover, with a delayed hearing of the Telegram, the market fears a potential crash for these tokens in the long-term perspective.
After recording a correction of 34.13% over the past 13 days, the TON price has experienced a bullish recovery of 6.78% within the past day with a trading volume of $355.63 Million. This gives its investors a sign of relief with a potential bullish reversal in the coming time.
Notably, with a jump of 7.44% within the past 36 hours, the Toncoin crypto has successfully retested its crucial support level of the descending channel pattern. Further, its technical indicators record a recovery, suggesting a high possibility of bullish action in the coming time.
Suppose, the market favors the bulls, this could result in the TON crypto breaking out of its resistance level and heading toward its upper level of $6.415. Conversely, a trend reversal could pull the price toward its low of $4.
The Relative Strength Index (RSI) indicator has successfully retested its oversold range in the 1D time frame. This suggests an increase in the price of altcoin in the crypto market. Notably, with the rising volatility, a bullish rebound is anticipated from the Ton-chain in the coming time.
Maintaining the price above its resistance level of $0.00925 could set the stage for NOT coin price to test its upper level of $0.0140. However, if the bearish sentiment intensifies, this altcoin could retest its low of $0.00455 this month.
