Toncoin and Avalanche are under market pressure, while BlockDAG shows stability and plans to establish a foundation in Switzerland.
Toncoin Price Forecast
Toncoin (TON) is grappling with a consistent downward trend, recently slipping below $6. Despite these challenges, signs of network strengthening are evident, shown by an increasing mean coin age. However, technical indicators like a downward-trending MACD and a low four-month Chaikin Money Flow hint at robust selling activity. The $5.36 level, reflecting a 78.6% Fibonacci retracement, stands out as a potential support zone. Nevertheless, the threat of further declines looms large, urging investors to tread carefully.
Avalanche’s Critical Support Level
As bearish forces continue to grip the market, Avalanche (AVAX) nears a pivotal support point at $21.73. Key indicators such as the MACD and Moving Averages underscore a persistent downward push, emphasizing the importance of this support level. With AVAX trading below crucial averages and showing bearish candlestick formations, the possibility of additional drops is on the table. Investors are eyeing the $21.73 level to determine if it will hold, which could lead to either a market rebound or further declines.
BlockDAG Plans to Establish a Foundation
BlockDAG is on the verge of establishing a Swiss Foundation to manage its presale earnings effectively. BlockDAG’s CEO, Antony Turner, noted in a recent interview the ongoing discussions with their legal team to pinpoint the optimal location and structure for the foundation, likely in Switzerland. This foundation is set to play a vital role in propelling BlockDAG's future initiatives, wisely allocating resources to bolster technical innovations and expand its global footprint. Turner also highlighted other significant milestones like the completion of its development network release, paving the way for future developments. With $67 million already secured and over 12.7 billion BDAG coins sold, the climbing confidence in BlockDAG’s trajectory is palpable.
While the Toncoin forecast advises caution with potential falls to $5, and Avalanche’s $21.73 support level remains a key barometer, BlockDAG promises a brighter future. Industry forecasts envision a $1 price point, positioning BlockDAG as an appealing prospect for holders looking beyond the immediate market fluctuations.
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