Toncoin (TON) Drops Over 40% After Hitting an All-Time High

Toncoin reached an all-time high of $8.20 on June 15, 2024. Since then, it has dropped over 40% and is currently trading at around $4.70.

Toncoin (TON) has seen a dramatic price drop of over 40% since hitting an all-time high of $8.20 in mid-June. This decline led to nearly 80% of TON holders facing losses.

Meanwhile, Tron (TRX) holds a crucial support level at $0.15 and remains in an uptrend, while IntelMarkets (INTL) offers a high-growth opportunity for investors with AI-powered trading tools and a projected 1,500% return. Let’s explore more!

Toncoin Drops Over 40% After Hitting an All-Time High

Toncoin reached an all-time high of $8.20 on June 15, 2024. Since then, it has dropped over 40% and is currently trading at around $4.70.

The decline followed the arrest of Telegram founder Pavel Durov, who was linked to allegations of illicit activity through the app.

As a result, nearly 80% of TON holders are now facing paper losses. Analysts suggest the correction in TON’s price may continue, as on-chain metrics indicate a decline in large transactions over $100,000.

In addition, experts warn that if TON doesn’t reclaim its $4.70 support level, its price could drop further, possibly to $2.60. Large transactions, a key momentum indicator, have also decreased slightly, signaling potential continued weakness.

Tron Holds Key Support at $0.15: What’s Next?

Tron has seen a price decline of 3% in the past week and is trading around $0.15 currently. Despite the downturn, data shows that 55% of top traders have long positions, signaling the potential for an upward move.

TRX is trading above the 200 EM, indicating that the token remains in an uptrend, although it is currently retesting a key breakout level. The $0.15 support level is crucial for TRX, and a price reversal could occur from this point. However, if TRX fails to hold this level, it may face significant sell-offs.

Major liquidation levels are set at $0.14 on the lower side and $0.15 on the upper side, with long and short positions at risk depending on the market’s direction. In addition, over 90% of TRX holders remain profitable, according to data from IntoTheBlock.

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