TON Coin (TON) Primed for a Rebound Rally After Last Week's Correction, Say Crypto Analysts

Pseudonymous analyst Altcoin Sherpa tells his 220700 followers on the social media platform X that TON could rally more than 23% from its current value.

Two crypto strategists with a large following are predicting a rebound for Toncoin (TON) after last week’s sudden correction.

Pseudonymous analyst Altcoin Sherpa, who has 220,700 followers on the social media platform X, shared his analysis on TON’s recent price action. He believes the layer-1 protocol could rally more than 23% 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.”

Another pseudonymous analyst, The Crypto Dog, shared his thoughts on TON’s upcoming price action with his 813,200 followers on the social media platform X. He believes TON could soon quickly enter the $6 range.

“TON probably pumps back extremely hard.”

The analyst has previously expressed optimism for TON, along with other altcoin projects, including Aave (AAVE), Curve Finance (CRV), and Arweave (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 was initially created by Telegram, the encrypted messaging service.

Telegram left the project due to regulatory concerns, and the TON Foundation, a global group of independent developers, took over. However, Telegram’s 700 million users can still send TON on the platform without entering lengthy wallet addresses.

Toncoin’s price crashed following news that Telegram founder Pavel Durov was detained in France on August 24th. TON soared to a high of $6.84 on August 24th and plummeted to $5.31 by the next day, a decline of more than 22%.

Toncoin trades at $5.27 at the time of writing, down over 7% in the last 24 hours.

AI Prompt: Toncoin (TON) Price Crash After Telegram Founder’s Arrest, Now What?

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