Toncoin Price Analysis: How Toncoin Performed This Week?

This is HODL FM, the crypto publication that feels like the last piece of a puzzle in the vast universe of Web3,  finally clicking into place when you most need it.

Related: Toncoin Price Prediction and Its Future

Here is a breakdown of how Toncoin performed this week:

• Weekly price change for Toncoin (TON): Toncoin price action shed 20% over the last 7-days, thereby dropping from $6.8 to $5.5.
• Toncoin (TON) Market Capitalization: Market capitalization for Toncoin dropped from $17.2 billion to $14.2 billion over the last one week.
• Toncoin news: Telegram messenger founder and CEO arrested and detained by French authorities.

Toncoin (TON) market value shed $2.7 billion on Monday following uncertainty around the Telegram-linked blockchain project after the arrest of Telegram founder Pave Durov. As a result, $TON, the native cryptocurrency that powers The Open Network (TON) dropped by 20% when the arrest occured at a Paris airport on August 24.

Despite the heavy losses in market capitalization, Toncoin is however standing strong among the top 10 cryptocurrencies by market value, as per data from CoinMarketCap.

TON's price drop appears to be giving off serious BNB vibes from back when Binance's CZ was sweating it out with authoritiesbefore his arrest and sentencing. BNB took a 13.50% nosedive before that day on April 30, but once the courtroom drama wrapped up, it bounced back like a crypto cat with nine lives, shooting up nearly 35% and almost hitting the $700 mark on June 6.

TON/USD Price Analysis: What is Toncoin Price Analysis this Week?

Toncoin (TON) took a nosedive, sliding under the support line of its symmetrical triangle on Aug. 24, like a bear crashing the bull's party and showing who's really in charge. 

The long tail on the Aug. 25 candlestick is like the bulls trying to pull off a last-minute save at $5.25, but instead, they fumbled the ball. 

Now, the bears have taken over the entire court, as they try to push the price below $5.25. If they succeed, the TON/USDT pair could tumble down to $4.72. 

And if it closes below that, we'll be looking at a full-blown bearish head-and-shoulders pattern—like the bears just scored a touchdown.

The first glimmer of hope will be if TON manages to break and close above the 20-day EMA at $6.34—it will be like el-matador, the leader of the  bulls finaly got their  foot in the door. If they can pull that off, the pair might just make a run for the 50-day SMA at $6.66, which is what they’re bravely aiming to attain.

How Toncoin Price Action Could Play Out in the Face of Legal Trouble?

When legal drama hits the fan—like when CZ or figures like Durov find themselves in hot water—the market freaks out faster than a cat seeing its own reflection.

Traders start dumping their investments, you’d think they've become allergic to them all of a sudden. The dumping is usually  a desperate bid to dodge any losses in case the cryptocurrency crashes.

But once everyone’s had a chance to breathe into a paper bag, the market calms down and starts thinking with its head instead of its heart.

Take BNB, for example. After the initial CZ sentencing hysteria fizzled out, traders figured out that, yeah, the legal mess was serious, but it wasn't exactly the end of the world for Binance or its ecosystem.

This triggered a mental U-turn from sheer panic to irrational optimism. The same traders who bailed out faster than a cat avoiding water suddenly found themselves tiptoeing back into the market, pushing BNB’s price up by a cozy 35%.

Toncoin could be next on the emotional rollercoaster. At first, Durov's arrest might look like a giant red flag, sending traders running for the hills.

However, if the market eventually views the arrest as an isolated event that doesn’t fundamentally impact the Toncoin ecosystem, traders may begin to see the dip as a buying opportunity rather than a cause for continued concern.

Telegram’s Free-speech Debate

Governments have criticized Telegram's lenient content moderation, claiming it fosters criminal activity, while free-speech advocates applaud the platform for enabling open dialogue. Telegram is particularly favored by the crypto community, who use it to share investment tips and insights.

More: Toncoin: From Telegram to TON Token

Although some communities use X, Signal and Discord  for group communications, the crypto ecosystem heavily relies on Telegram, as such, the ripple effects could be  significant if the regulatory hunt continues.

Telegram to Unveil Telegram Ad Platform in March with 50% Share Revenue for Channel Owners | HODL FM

Telegram’s CEO Pavel Durov promises creators a whopping 50% cut of ad revenue. Finally, a way to monetize those midnight ramblings!

HODL FM: The Wildest Ride in the Crypto MarketRichard Adrian

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.