The crypto market continues to display volatility in September, with Toncoin falling 7% in the past 24 hours.
The coin’s performance has been made even more impressive, considering the broader crypto market has remained in a downtrend over this period. Additionally, broader weakness across the crypto market is likely weighing on sentiment around TON, with theFrom a technical perspective, TON’s price has rejected a key resistance zone around $2.60, which was also tapped in January and February of this year.
Toncoin’s value also appears to be affected by the Federal Reserve’s hawkish comments, which came after Fed Chair Jerome PowellPowell noted that the benchmark interest rate may be lifted once more this year to reach the 5.50%-5.75% range – a move that could have a negative impact on the crypto market as a whole.While Toncoin continues to face selling pressure, one emerging project is generating growing interest.
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