Analysts are sounding the alarm for Toncoin, emphasizing the urgent need for the cryptocurrency to reclaim the $3 mark. The material draws attention to the fact that this critical threshold is seen as pivotal for preventing a potential selloff that could significantly impact its market position.
Market Outlook for Toncoin
According to market experts, a robust weekly close above the $3 level could entice sidelined buyers, providing much-needed support and stability for Toncoin's price. This scenario is crucial as it may help to bolster investor confidence and prevent further declines.
Potential Risks and Targets
Conversely, if Toncoin fails to reclaim this key level, traders may shift their focus to lower demand zones, with targets set around:
- $1.50
- $1.00
Such a move could exacerbate selling pressure, leading to a more pronounced downturn in the cryptocurrency's value.
The recent acquisition of Subsquid by Rezolve AI is expected to influence the market dynamics of the SQD token, contrasting with the current concerns surrounding Toncoin's price stability. For more details, see this article.
