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Analysis: TON linked to Telegram may follow BNB's decline and then rebound

CointimeCointime2024/08/26 02:45
By:Cointime

The price of TON, which is associated with Telegram, fell by 25% due to the arrest of Telegram founder Pavel Durov. However, some technical and market factors suggest that TON may experience a significant rebound in the coming weeks. Similar situations have occurred with BNB, which fell 13.5% when CZ was sentenced in the US on April 30. However, when the dust settled on the ruling, BNB rose nearly 35% from its low point and reached a high of nearly $700 on June 6.

When news of legal disputes breaks out, panic selling is a common scene in the market, as traders are eager to protect their investments from potential impact. However, once the initial shock subsides, the market will re-evaluate the situation more rationally, and the same psychological pattern may also appear in Toncoin. Pavel Durov's arrest may be viewed as a major danger signal, causing traders to exit their positions and causing prices to plummet. But if the market later believes that this arrest is an isolated event and will not fundamentally undermine the Toncoin ecosystem, traders may begin to see this decline as a panic buying opportunity.

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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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