Toncoin (TON) price prediction for August 18, 2024, shows an interesting but uncertain movement potential. Technically, TON recently broke out of a rising wedge pattern, which usually indicates further downside potential. The main downside target could be around $5, especially if market sentiment remains bearish. However, there is a possibility of a rebound from interim support levels such as around $5.61.
On the other hand, on-chain analysis shows that whales are still accumulating TON, which is usually a positive sign for the long-term price. Activity in the TON ecosystem is also increasing, with several strategic partnerships and growing adoption.
Factors that influence TON price include broader market sentiment, whale activity, and developments in the TON ecosystem. While the price may fall in the short term, there is also potential for a rebound depending on technical support and fundamental factors.
