Since the arrest of Pavel Durov, CEO of Telegram, the Toncoin cost has dropped over 23% in evaluation. This highlights increasing unpredictability for the altcoin in the cryptocurrency market. Notably, Toncoin (TON) is the 10th most-valued task with a capital of $11.833 Billion.
With the continuous accusations on Telegram and its CEO for several offenses, will Toncoin plunge towards its lower levels or recover $6 by month-end?
TON Coin Price Breaks Down Its Triangle Pattern!
The Toncoin rate had formed a triangle pattern in the 1D time frame and hadactually been trading within it because July. However, with the current market chaos, the altcoin broke down its assistance trendline with a plunge of 15.22% over the past week.
The EMA 50/200-day hasactually tape-recorded a constant decrease in the Toncoin cost chart. This shows an boost in the selling pressure within the crypto area. Furthermore, the indication shows a high possibility of a Death Cross, recommending a unfavorable outlook in the coming time.
Moreover, the RSI sign has ex