Ethereum

Uniswap

Toncoin

Resistance

Foundation

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The Toncoin’s price trading above the major EMA’s and a bearish pattern might be forming.</a> </li> 
 <li> <span>2</span> <a>The price of the Toncoin is trading at $2.3273 and the 52-week range is $0.9981 – $2.8502.</a> </li> 
</ul> 
<p>The TON project was started by Telegram’s founders Paul and Nikolai Durov in 2018, but they had to leave it due to regulatory issues with the SEC. However, the TON Foundation, led by a community of developers, continued to work on the project and improve it to its current level.</p> 
<p>Toncoin fell by 6.68% in market value and surged by 14.41% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $7,967,828,551 and its trading volume is $49,285,550. There are 3,431,892,088 TON in circulation which is the amount of TON coins that are circulating in the market and TON’s that are in public hands.</p> 
<p>The TON Foundation has integrated its token into the Telegram messaging app, which has over 800 million active monthly users. This has generated a lot of interest and activity in the crypto space. The TON project is run independently from Telegram and has no affiliation with its founders.</p> 
<p>The integration has boosted the TON coin’s price and performance. The coin has risen by 71% in the past month and has seen more active addresses and token transfers on the Ethereum blockchain, where it is traded as a ‘wrapped asset’. This also allows it to be traded on DEXs like Uniswap and Pancakeswap, where the volumes have increased due to the news.</p> 
<p>One of the main features of the integration is the ‘TON Space’, a self-custodial wallet within the Telegram app. This wallet lets users interact with digital assets directly on the messaging app and use mini apps. For example, ‘Fragment’ is a platform for trading and auctioning Telegram usernames, which has raised $120 million, according to the TON Foundation.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-ton-ton-on-1-d-timeframe-strong"><strong>Technical Analysis Of TON (TON) on 1-D TimeFrame</strong></h2> 
<p>The price was in a downtrend from March to August, falling nearly 50% from $2.5 to $1.1 by making lower lows and lower highs. After that, the price reversed from the $1.1 support and entered an uptrend, making higher highs and higher lows and rising almost 120% from August 3rd to the current level of $2.31.&nbsp;</p> 
<p>However, looking at the previous price pattern, it seems that the price was following a trendline support and bouncing back from it multiple times. This suggests that the price may be forming an ascending broadening wedge pattern, which is usually bearish.&nbsp;</p> 
<p>Therefore, in the short term, the price may continue to surge upwards until it reaches the next resistance levels, but in the long term, it may decline by completing the pattern formation of the ascending broadening wedge. To break out of this pattern, the coin needs to attract more buyers to overcome the resistance levels.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/2mMqBn7ueKMgT2uRWc_KvamSg8uHY24KKG-ZYR7fki1Ih6xbuyDa01luVHXslsrgDfgmBSE696p-iMqDdj5HSt3B8Tem_CU6uS8g-5ZrCtlo5T0-u01Xesybk-DGQXMfDsQokgsnn2nqvN3kCVdGraI" alt="Will TON’s Deepening Roots in Telegram, Help In Surging Upwards ?"> 
  <figcaption class="wp-element-caption">
    Source: TON/USD.1D.CRYPTO by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>At the time of publishing, <a href="https://www.thecoinrepublic.com/2023/09/19/toncoin-ton-comes-under-top-10-list-of-most-traded-crypto/" rel="noopener noreferrer nofollow">the Toncoin price (CRYPTO: TON)</a> is trading above the 20, and 50-day EMAs (exponential moving averages), is supporting the Toncoin price trend.&nbsp;</p> 
<p>The MACD line 0.2194 and the signal line 0.0.1787 are above the zero line . The current value of the RSI is 64.63 points and the 14-day SMA is above the median line at 67.28 points. Combiningly, the technical indicators tools view highlights dominance of sellers.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>TON, a crypto project run by a community of developers, has integrated its token with Telegram, a popular messaging app. This has increased the demand and price of TON coin, as well as its activity on the Ethereum blockchain. However, the price may be forming a bearish pattern that could lead to a drop. To avoid this, TON needs more buyers to push the price above the resistance levels.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<ul> 
 <li><strong>Support levels: </strong>The nearest support levels are $2 and $1.5.</li> 
 <li><strong>Resistance levels: </strong>The nearest resistance levels are $2.5 and $3.</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Will TON’s Deepening Roots in Telegram, Help In Surging Upwards ?

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Thecoinrepublic.com

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