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The situation faced by Telegram’s co-founder has significantly impacted the TON Coin price. Moreover, there are other issues. For example, at the time of writing, new blocks are not being produced, and this has been ongoing for an hour. What is happening on the TON Coin front? What awaits investors?
TON Network Halted
The TON blockchain has halted several times recently. At the time of writing, new blocks are not being produced, and this last occurred during the distribution of DOGS airdrops. According to network performance tests, it is highly resilient, but the block production halt occurring while Telegram’s co-founder is in court is particularly demoralizing. The TON Coin price is falling.
The SMA50 is at $6.58, and movement below this continued to $5.26. The RSI is in the negative zone, and the news flow supports the bears. If the selling continues, the TON Coin price is likely to drop to $4.72 in the coming hours. This support area will be defended as a priority to prevent larger losses. If it breaks, the head and shoulders formation will be completed, triggering larger sales.
