Toncoin (TON) Dives 69% in Market Turbulence: Analysts Eye Potential Rebound
Toncoin (TON) continues its downward spiral, dropping 4.17% against the U.S. Dollar to $1.77 today. While the overall crypto market declined 2.85%, TON's 1.93% loss against Bitcoin underscores its vulnerability in the current market climate.
The asset has suffered a 16.25% monthly decline, adding to a brutal 46.66% quarterly slump. Year-over-year, TON's 69.04% crash from its $5.73 peak leaves it testing critical support at $1.72. June 2024's all-time high of $8.27 now seems like a distant memory, with price action currently ranging between $2.36 and $1.25.
Seventeen positive trading days in the past month offer a glimmer of hope, but TON's persistent correlation with broader market weakness suggests any meaningful recovery depends on macroeconomic conditions improving.
