After a serious downswing Toncoin is showing signs of recovery. TON, with a market capitalization of over $12 billion, lost by 2.4% within the last 24 hours. On the other hand, on 8 October the Toncoin price dropped to $5.00 before making small gains. As of writing, TON is trading at $5.05 TON/USDT on Gate.io. However, its value decreased by 4.5% during the last 30 days. At the moment, TON is showing strong bearish momentum. As per its price action, TON is within a consolidation phase. The long-tailed candlesticks that have formed at the bottom of the 7-day price chart indicates a possibility of an upswing. The following graph shows TON’s current price action.
Toncoin Price Action – Coingecko
If the TON price surges above the down sloping trendline it may enter a recovery zone. At
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