TORN Token Rises 13% Following Developer’s Temporary Release from Detention
TORN Price Movement
- TORN, the token of Tornado Cash, increased by 13% to a daily high of $14.28 from a low of $10.78.
- Current trading price is $12.07, with a 30-day gain of 32%.
Developer Release Impact
- Price surge linked to the release of developer Alexey Pertsev, who was sentenced to 64 months for money laundering in May 2024.
- Pertsev's pretrial detention suspended by a Dutch court under electronic monitoring conditions.
- Pertsev plans to file an appeal and submitted a motion to the U.S. Supreme Court regarding his defense strategy.
Market Reaction
- After overturning sanctions on Tornado Cash, the sentiment around TORN has turned bullish.
- Investors are currently selling for profits after a 613.38% increase over the past year.
- The Relative Strength Index (RSI) stands at 50.67, indicating a balance between buyers and sellers.
- If support holds at the 20-day EMA, a retest of $15 may occur; otherwise, a pullback to $8 could happen.
