Toncoin (TON) has experienced impressive growth in 2024, but like other large-cap assets, it has faced challenges in sustaining its momentum recently. The price fell below $5 on October 25 for the first time in over a month. However, crypto analyst Ali Martinez predicts a quick recovery based on technical indicators.
Martinez highlighted the Tom Demark (TD) Sequential, a technical analysis tool that signals potential trend exhaustion and reversal points. The 12-hour chart indicates a potential rebound as the TD Sequential reached a critical juncture with the appearance of the number "9" on the bearish candlestick.
If the projection holds, Toncoin could return to the $5 level shortly. Currently, its price is approximately $4.74, marking a 7.4% drop in the past day and a 10% decline over the week. These fluctuations reflect the altcoin's recent unstable performance.
