Two crypto analysts who have been closely monitored predict a recovery for the layer-1 protocol Toncoin.TONAfter last week’s abrupt correction.
Altcoin Sherpa, a pseudonymous analyst tells His 220,700 social media followers on the platform X could see TON rise by more than 23 percent from its current price.
“Bought TON last night in spot, going to hold it and see how it plays out. $5.50 was the entry, going to be patient. I think this mean reverts a bit and these are decent entries from a TA (technical analysis) standpoint. Target is around $6.30.”
Crypto Dog, another pseudonymous researcher. tells He told his 813 200 followers on the social networking platform X that he believed TON would soon jump to $6.
“TON probably pumps back extremely hard.”
This analyst was previously expressed Bullishness for TON along with altcoin projects including Aave, the protocol of decentralized financial (DeFi).AAVEDeFi Protocol Curve FinanceCRVArweave is a protocol that allows for decentralized storage of data.AR).
“Think we’re in early stage of a selective altseason, focused on alts with significant BTC pair strength. For example, AAVE, CRV, probably TON still, potentially AR.”
Toncoin is a cryptocurrency that was designed originally by Telegram, a messaging app with encryption.
Telegram left the project due to regulatory concerns and was replaced by TON Foundation – an international grouping of independent developers.
Telegram, with its 700 million users, allows you to send TONs without needing long wallet address.
Toncoins’ price has plummeted in recent months. news Telegram’s founder Pavel Durov, was arrested in France on the 24th of August. TON hit a peak of $6.84 per TON on August 24, and then plummeted down to $5.31 the following day. That’s a drop of over 22%.
Toncoin trades for $5.27 as of the time this article was written, down more than 7% over the past 24 hours.
Don’t Miss a Beat – Subscribe Get email notifications delivered straight to your Inbox
Check out the latest news and updates on our website. Price Action
Please follow us X, Facebook You can also find out more about the following: Telegram
You can surf to your heart’s content The Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Before investing in Bitcoin or other digital assets, investors should conduct their own due diligence. You are responsible for any losses that you might incur. The Daily Hodl is not an investment adviser and does neither recommend buying or selling cryptocurrencies or other digital assets. The Daily Hodl engages in affiliate marketing.
Midjourney – Generated Image
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: dailyhodl.com
