The price of Toncoin (TON) has fallen significantly over the past year. According to CoinGecko, TON has fallen more than 2024% since September 40 and 62,5% since last June from its all-time high of $8,25.
Currently, TON is down 0,7% on the daily chart, 1,1% on the weekly chart, 2,4% on the 14-day chart, and 7,8% month-on-month. Should we be worried about TON price falling further?
TON Token Price Change Over the Year. Data from CoinGecko
In June last year, amid optimistic market sentiment, the Toncoin (TON) rate peaked at $8,25. Over the past few months, token has lost a significant amount of value. TON’s poor performance may be due to the overall bearish sentiment that has dominated the cryptocurrency market in recent months. Earlier this year, some cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), BNB and XRP, reached new historical highs. Many other assets failed to stay afloat.
Investor interest in Toncoin (TON) has waned significantly over the past few months, but that doesn’t mean its best days are over. TON’s trajectory could change very soon.
CoinCodex algorithms are quite optimistic about the dynamics of Toncoin (TON) in the second half of this year. In particular, TON is expected to rise to a new historical maximum of $17,39 on November 21. Reaching the target level of $17,39 will provide growth of approximately 460,9%.
CoinCodex data
The most likely impetus will be a 25 basis point interest rate cut by the US Federal Reserve, in which case Toncoin (TON) and the entire cryptocurrency market will show a major trend reversal.