#Toncoin #BTC☀ #ETH🔥🔥🔥🔥
TON 20% disaster, can it recover? BTC failed to break through $70,000, what happened? ETH can't break through this resistance!
Recently, the price of Toncoin has fallen by nearly 20% in a short period of time, and the market has been shaken by this wave of operations. What's more, Pavel Durov, the big boss of Telegram and an important figure in Toncoin, was arrested at this time. Although Durov's arrest surprised people outside, people in the cryptocurrency circle are more concerned about TON's performance.
The price of TON is now around $5.4, which is a lot lower than the high point of nearly $7 at the beginning of the month. As soon as the news of Durov's arrest came out, the selling trend became more intense, and the price fell directly.
The 200-day and 50-day moving averages that everyone values are like the psychological defense lines of traders. Once TON breaks these lines, the pressure will be greater, and it may continue to fall.
Let's talk about BTC. It also failed to stand on the step of 70,000 US dollars. Although everyone thought it could break through, it was still a breath away in the end, and the price fell a lot. BTC's upward momentum stopped at 64,600 US dollars, and now it has fallen to around 63,951 US dollars. Seeing that the 70,000 mark is just in front of us, but it just can't get through, traders are also lacking confidence.
Why can't BTC go up? Maybe everyone thinks that the number of 70,000 is quite special, and it is easy to sell when it reaches this point, so there is great resistance. Before it broke through, some people started to sell their BTC, and the price fell faster. Technical indicators also show that BTC has risen a bit too much now, and it needs to take a break.
There is also ETH, which is now in trouble. It is not easy to break through the hurdle of 2,750 US dollars. ETH is hovering at the 26-day average line, unable to go up or down. Even if it rises a little from the low point, it still lacks momentum and is still far from the $3,000 mark.
The ETH network is also a problem now. Although the price has risen, there are still not many people using it, and the utilization rate is not high, which may be one of the reasons why the price cannot rise.
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