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Bears have taken control of Bitcoin as Toncoin took over and outperformed it to remain stable over $6.20 as its price went up by 15%, with experts saying that its price could go as high as $8.
Coin Chapter reported that Toncoin has gained more than 50% in the recent days, outperforming Bitcoin and other cryptocurrencies. The coin traded at an all-time of $8.80 before the bulls caught up with it.
As Iran and Israel conflict escalated over the weekend, which increased selling pressure on Bitcoin (BTC), Ethereum (ETF), Litecoin (LTC), Toncoin (TON), Ripple (XRP), Solana (SOL), and other cryptocurrencies.
Breaking key supports, the crypto market declined over 15%, with TON falling below $6.50 and %6 support levels. However, bulls took charge when the coin was around %5.50, bringing it back up.
TON’s price has been going up and it has gained 15%, with experts believing that it will continue its upward trajectory.
Conversely, TON could start a downside correction from the $7.10 resistance. Immediate support is near the $6.50 level and the 50 simple moving average (4-hour, blue).
Disclamer: The information presented here is for informational purposes only and should not be considered financial advice. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional.
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