Toncoin Price Prediction Amid Rumors That Apple Wants To Delete Telegram As Top Traders Pivot To This P2E DOG Crypto That Might 100X
The Toncoin price surged 4% in the last 24 hours to trade at $5.60 as of 03:31 a.m. EST on trading volume that plunged 35% to $1.6 billion.
This comes as the old rumor of Apple removing the popular private messaging app, Telegram, resurfaces following the arrest of co-founder and CEO Pavel Durov in Paris.
Telegram has, however, cleared the air by stating that the platform abides by EU laws and that the allegations, including abuse of the platform by Durov, are false.
Meanwhile, the price of TON fell more than 20% after the arrest of Durov but has since slightly rebounded.
Toncoin Price Aims For A Rebound
The Toncoin price from August 10 formed a triple bottom pattern, with the bulls retrying the $6.9 resistance zone, according to data from GeckoTerminal .
However, after Durov’s arrest, the price of Toncoin invalidated the bullish prospects, with TON dropping past the $6.4 support level to as low as $5.28. TON has since been on an uptrend, rebounding through a rising channel as the bulls aim for a continued bullish rally.
The Relative Strength Index (RSI) currently trades within the oversold region at 33, showing that the asset is undervalued.
The RSI being undervalued may be a buying signal for the bulls. If buying begins, the price of Toncoin may soar past the $5.9 support, currently targeting $6.6.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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