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One of this year’s favorite altcoins has been TON Coin, and we have seen new projects in its ecosystem attract significant demand. These applications, growing in integration with the Telegram app, quickly reach over a million users. For new crypto projects, reaching a million users is not easy. The TON Coin ecosystem achieves this by leveraging the power of Telegram, which has 950 million monthly active users.
TON Coin
However, not everything is rosy. Although network activity is strong and the ecosystem is growing, it is not always possible to keep demand high for altcoins when BTC shows such weak performance. This is also true for TON Coin. The price is about to lose a significant profit level, which could lead to rapid sales.
Global In/Out of the Money shows that investors bought approximately 800 million TON Coin between $6.12 and $6.77. This amounts to $5.2 billion, and since the current price is at the $6.59 threshold, a loss could trigger large sales.
On the other hand, the increase in the ratio of active deposits on the network suggests that investors might be preparing to sell while in profit. This also indicates that many altcoin investors might be motivated to switch to alternatives since they are at reasonable buying levels.
Investors who profited after the recent crash want to secure themselves against a similar drop, considering the ongoing fluctuations for months.
TON Coin Price Prediction
TON Coin, which has been declining for a few days, has fallen to $6.59 and needs to avoid being pulled down by the $5 billion profit-taking potential to maintain its upward trend. However, if BTC can stay above $60,000, TON Coin investors might gain confidence.
The key resistance for TON Coin is at $7, and overcoming this resistance with closures above it will pave the way for recovery. Subsequently, $7.53 and the all-time high of $8.28 could be tested. On the other hand, if the key support level of $6.43 is lost, TON Coin sales will accelerate, and a bottom might be sought at $6.04.
