Toncoin (TON) Enters Accumulation Zone, Presenting a Potential Buying Opportunity

Toncoin (TON) has confronted important turbulence previously 5 days following the arrest of Telegram co-founder and CEO Pavel Durov in Paris.

Toncoin (TON) has confronted vital turbulence over the past 5 days following the arrest of Telegram co-founder and CEO Pavel Durov in Paris. The shut ties between Toncoin and Telegram have caused a swift response in the market, with TON’s price plummeting over 25% since the incident on Saturday.

This sudden drop has left many holders in distress, questioning the token’s future. However, while opinions among analysts and investors differ, some see this as a potential opportunity.

They argue that TON is likely entering a reaccumulation zone, presenting an opportunity for savvy investors to buy at lower prices before the market stabilizes. As the situation unfolds, the focus remains on whether Toncoin can recover from this setback and regain its earlier momentum.

Toncoin In Accumulation Zone

Toncoin (TON) is currently trading at the same levels it was at the beginning of the month when the broader crypto market was experiencing significant selling pressure. This retracement has caught the attention of several analysts and traders who believe it presents a strategic opportunity to accumulate TON at a discounted price.

Coin Alerts, a popular group of crypto analysts on X, has shared a chart analysis indicating that Toncoin is likely in a reaccumulation phase. According to their analysis, the present price ranges may offer a 3x to 5x return if the market conditions align favorably. They argue that the recent price drop, triggered by the arrest of Telegram’s co-founder and CEO Pavel Durov, might have been an overreaction, creating a buy-the-dip scenario for those willing to assume the associated risks.

However, it’s crucial to note that while the potential for substantial gains exists, significant risks are tied to this project, especially in light of recent events. The uncertainty surrounding Telegram and its impact on Toncoin adds an extra layer of complexity for investors. As with any investment, thorough research and risk management are essential before making decisions.

TON Price Action

Toncoin (TON) is trading at $5.48 after enduring 5 days of aggressive selling pressure. Over the past 12 hours, the price has recovered about 6%, finding resistance at the $5.04 mark, which has been a key demand level over the past month. This price response suggests that bulls are attempting to regain control, but the trend reversal is far from confirmed.

For a more definitive shift in momentum, the price needs to break past and hold above the 4-hour exponential moving average (EMA), an indicator that denotes strength in price action. The 4H 200 EMA is currently positioned at $6.41, a substantial 18% above the present price. Breaking above this level would be a strong bullish sign.

However, if the selling pressure persists, there’s notable liquidity resting below March’s low at $4.50. Should the price continue to decline, this level would likely act as the next support, making it a crucial zone for bulls to defend.

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