Toncoin has faced a week where it was the best performer in the broader ecosystem losing 30% for the month. On the fourth of November, the transaction coup witnessed the dominant cryptocurrency dipping under $90,000, provoking sell-offs among other cryptocurrencies.

At the mark of $3,47, TON is tentatively testing a zone that saw great accumulation play in the past and has invariably led to some rebounds during such a trend.

Key Technical Levels and Recovery Bullish Signals

Despite a heavy battering, TON is now comfortably placed in 0.6x – 0.8x Mayer Multiple, a lucrative accumulation zone in history. Once the buying strength is increased, the price is slated to move up toward the 1.2x – 1.5x Mayer Multiple, where the bullish reversal trend kicks in.

With a market capitalization of $8,44 billion and a trading volume of $374,23 million daily, Toncoin is still the prominent altcoin undergoing proper evaluation.

The speculation by analysts is that the direction of the next move in the price of Bitcoin will be very important in setting back onto a bull rally, as minor switches in sentiment could set up a situation where it could easily recover.