Toncoin: Top Weekly Gainer Faces 17% Correction
Toncoin is currently the best-performing crypto in the weekly charts among the top 100 projects. The token has gained 28.9% over the last seven days and 57.1% over the previous month. Although they are no longer connected, the crypto project remains closely linked to the Telegram messaging app, which is very popular in the crypto community. At press time, Toncoin had been able to recover from a 3-month drawdown that lasted from May 2023 to August 2023. Its current value of $1.88 is almost a 100% recovery from its low point of $0.96 registered on June 12. However, with immediate resistance at $1.985, there is a potential for a correction over the next few days. Immediate support for TON lies around $1.523, which was tested as resistance a few times during the drawdown period. With the Relative Strength Index or RSI currently in an overbought region, buying pressure might subside going forward for the asset. The VPVR indicator also suggested a lack of strong trading volume at the cur...