Toncoin (TON) has experienced a significant price decline of 14.71% over the past week, amidst a downturn in the cryptocurrency market.
Prominent crypto analyst Burak Kesmeci has outlined price targets for Toncoin based on historical data, suggesting potential gains. These targets include:
To achieve these targets, Toncoin will need to overcome resistance levels at $6.5 and $7.0.
Despite the recent price decline, Toncoin's daily trading volume has increased by 3.61% to reach $619.19 million, indicating strong investor interest. With a market capitalization of $13.91 billion, Toncoin remains the ninth-largest cryptocurrency.
The interplay between Bitcoin's market dominance and the performance of altcoins will be crucial in determining Toncoin's trajectory. Analysts believe that Toncoin could capitalize on the anticipated altseason if it can navigate the challenges ahead.