Following the arrest of Pavel Durov, CEO of Telegram, top tokens in the Toncoin ecosystem have shown a significant recovery over the past two days. However, uncertainty continues to plague investors, with over 87% experiencing losses. This article examines the current market trends for Toncoin and Notcoin and their future prospects.
Toncoin Price Analysis
After a 34.13% correction over the past 13 days, TON price has experienced a 6.78% recovery within the past day, with a trading volume of $355.63 million. This provides investors a sign of potential bullish reversal in the coming time. TON has also successfully retested its key support levels. Technical indicators suggest a high likelihood of bullish action in the near future. If the market favors the bulls, this could lead to TON breaking out of its resistance level and reaching $6.415. Otherwise, a trend reversal could bring the price down to $4.
Notcoin Price Stabilization
The NOT token has displayed similar market actions, adding approximately 4% to its value within the past day. With strong fundamentals and a discounted price of 73.4%, the project holds high long-term bullish prospects. The Relative Strength Index (RSI) successfully retested its oversold range on the daily chart, indicating a possible increase in the altcoin's price in the crypto market. Maintaining the price above the resistance level of $0.00925 could set the stage for NOT coin to test its upper level of $0.0140. However, if bearish sentiment escalates, the price could retest its low of $0.00455 this month.
Overall Market Trends
The cryptocurrency market remains volatile, particularly with delayed hearings concerning Telegram. Investors are anxious, fearing a potential long-term crash of these tokens. Despite recent upward movements, uncertainty remains high, making investments in these projects risky.
The current market situation for Toncoin and Notcoin remains uncertain. Despite recent price gains, many investors continue to face losses. The market prospects for these tokens depend on the ongoing developments surrounding Telegram and its founder Pavel Durov.
Comments