Bitcoin

Toncoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-decline-influences-altcoins/" data-wpel-link="internal">Bitcoin’s Decline Influences Altcoins</a><br></p>
<p style="text-align: justify">The leading cryptocurrency, <strong>Bitcoin (BTC)</strong>, dropped from $69,000 to $66,000 after US announcements. This decline in Bitcoin also affected altcoins. After reaching its peak price of $7.87, the popular Toncoin (TON) is now aiming for a new target.</p> 
<h2 id="8-dollar-target-for-ton">8 Dollar Target for TON</h2> 
<p style="text-align: justify">The Chaikin money flow, a metric influencing price, supports the altcoin’s rise. Additionally, the buying pressure above the CMF’s zero line indicates <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> dominance. Despite Bitcoin’s decline affecting the <a href="https://en.coin-turk.com/bitstamp-denies-allegations-of-being-put-up-for-sale-focuses-on-creating-new-resources/" data-wpel-link="internal">crypto market</a>, <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> TON token maintained a relatively stable stance.</p> 
<p style="text-align: justify">The Telegram-based altcoin, Toncoin, may make efforts to reclaim its approximately $8 target. The increase in Telegram Bot tokens also contributed to the rise of TON token. The recent increases pushed the market value of Telegram-based tokens beyond $1 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362159 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/ton-2.jpg" alt="" width="850" height="352"></p> 
<h2 id="ton-expectations">TON Expectations</h2> 
<p style="text-align: justify">Meanwhile, the critical sentiment metric in tokens reached a two-month high for TON. This situation might support the narrative of Toncoin achieving gains beyond its all-time high set today. Experts suggest that if TON surpasses its ATH of $7.87, it could rise towards the $8 level.</p> 
<p style="text-align: justify">If the mentioned level becomes a support base, TON could reach higher levels. However, profit-taking sales, common in rising tokens, might cause the altcoin to decline again. In such a scenario, the critical support level for TON is noted to be $7.07. If this level is lost, significant declines in the cryptocurrency may occur, invalidating the upward momentum mentioned above.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-decline-influences-altcoins/" data-wpel-link="internal">Bitcoin’s Decline Influences Altcoins</a></h5>

Bitcoin’s Decline Influences Altcoins

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