TON Update — Don't Touch It Right Now 🙅♂️
Since the news about Pavel Durov's arrest hit the news channels, TON has started a free fall. Overall, the price is down ~25%.
Recently, the price found support at the $ 5 level, which also served as strong support during the early August crash.
However, it is unclear if we will see a similar bounce to the one in August (+40% in 10 days). Certainly, there is a high probability that the market is overreacting, and we will see relief soon.
On the other side, the impact of Durov's arrest on Telegram and TON is still unclear. Therefore, it just needs some bearish news, and TON might make another move toward the downside.
My takeaway: Investing and trading TON is far too risky. It's better to stay sidelined for the moment.
