Our TONIC price prediction is still bearish as it has entered a prolonged accumulation phase. Tectonic price has failed to break out of the downtrend and appears to be range-bound. The price has been trading in the range of $0.00000015 and $0.00000019 for the last month without any significant move.
Tectonic crypto is an algorithmic money market DeFi protocol that resides on Cronos (CRO) blockchain. It is worth mentioning here that most algorithmic DeFi protocols have been under fire since the collapse of Terra Luna. Many investors have started to take a risk-off approach in the market and withdraw most of their assets from risky protocols. Consequently, the native assets of these DeFi protocols have seen an intense sell-off and now trading at just a fraction of their ATHs.
According to official TONIC crypto news, the platform is now supported on Zapper.fi dashboard. Now, Tectonic users can keep track of their positions in a much better way via the Zapper dashboard. As per the official stats, there is currently $456 million worth of funds available to be borrowed on the platform. Out of this, only $189 million have been borrowed.
TONIC Price Prediction
Technical analysis of the TONIC coin depicts a classic case of prolonged bearish accumulation. As mentioned in our previous TONIC price prediction, the downtrend got intensified after losing the $0.00000044 support level. This loss of support has sent the cryptocurrency into a downward spiral. It is now 90.6% down from its February 2022 all-time high of $0.00000190.
To boost the investor confidence in the project, the price needs to close above the $0.00000019 level and flip it into support. In the case of such a breakout, $0.00000030 seems to be a valid TONIC price prediction in short term. This price target also aligns with the listing price of TONIC on the crypto.com exchange. However, such a move is only likely if the ongoing relief rally in Bitcoin price continues.
TONIC USD 4H Chart
