On the morning of August 27, TON chain's native token, Toncoin, fell nearly 9% again, dropping to around $5 at its lowest point before recovering to $5.28.
According to a report by the United Telegraph, French authorities have decided to extend the detention of Telegram founder and CEO Pavel Durov, stating that further questioning will be conducted. The detention period has been extended from August 25 to August 28.
Although this news has dealt another blow to TON coin, its impact has weakened, and the decline is narrower compared to before. The future impact may gradually dissipate, primarily due to the widespread external opposition to the actions of the French authorities, and the increasing pressure they face.
From the price chart, it can be observed that TON coin is near the low points of $4.7 on August 5 and May 1 this year, which is considered a key support level. If this level holds, TON coin still has the potential to rebound. However, if it breaks below this support level, the downside space will further open, potentially falling back to the $3 level.
