The price action of TON (Toncoin) has been strongly affected by the news related to Pavel Durov, CEO of Telegram. The chart shows a significant decline, with a sharp bearish candle accompanied by a spike in trading volume. This shows that the sell-off sentiment is spreading among the investor community, concerned about the future of Telegram and its impact on Toncoin.
The RSI is also at a low level, near the oversold zone, which could lead to continued selling pressure in the short term. However, it is also necessary to monitor further information to more accurately assess the price trend of TON in the coming time.
The $4 - $5 price zone is considered a strong support zone for TON, based on previous backtests. When the price approaches this zone, it is likely that buying power will increase due to the interest of investors who consider this an attractive price zone to enter orders.
In the current scenario, if the price continues to decline and touches the $4 - $5 support zone, it could be a good opportunity to buy, based on the history of price reactions in this zone. However, it is also important to keep an eye on trading volume and other technical indicators to confirm the buy signal, as the market situation can change rapidly due to unforeseen news or events.
