Toncoin Challenges Critical Support Level 📉
This week has been tough for Toncoin, with the cryptocurrency facing challenges. The current trading price of $4.62 is below a crucial support level. Analysts believe that reclaiming this support is essential for Toncoin to see a price recovery.
Toncoin Urged to Reclaim $4.70 Support 📢
In a recent social media post by crypto analyst Ali Martinez on X (formerly Twitter), urgent calls have been made for Toncoin to reclaim the $4.70 mark promptly. Failing to do so could result in a significant correction of up to 45%, potentially dropping the token’s value to around $2.60.
- Analyst warns of head and shoulders pattern formation on the three-day chart.
- Consolidation above $4.70 critical for maintaining bullish outlook.
Challenges Mount with Pavel Durov’s Arrest 🚔
The recent arrest of Telegram CEO Pavel Durov has added to Toncoin’s woes. Durov was taken into custody in France at the end of August for questioning related to serious allegations against Telegram. The platform has been accused of facilitating criminal activities such as fraud, drug trafficking, and the distribution of child pornography.
- Telegram criticized for lack of content moderation and links to extremist groups.
- Arrest sparks backlash from Russian politicians, suggesting political motives.
Telegram Faces Potential Ban Probe 🚫
Legal troubles for Telegram are not limited to France, as the Indian government has launched an investigation into the messaging app. Concerns have been raised about the platform being used for criminal activities like extortion and gambling.
- Allegations of bad actors exploiting Telegram’s features for illicit actions.
- Lack of physical office in India hampers government regulation efforts.
As the investigation unfolds, Telegram could potentially face a ban in India. The ongoing scrutiny of the platform and its leadership poses challenges for Toncoin, affecting market sentiment. Positive outcomes in these legal issues might serve as a catalyst for TON to rally in the future amidst weak demand and buying pressure in the market.
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