Flow

Bitcoin

Rise

MN Coin

TONcoin (TON) bulls have made significant profits from the recent surge of <a href="https://en.coin-turk.com/bitcoin-may-see-a-rise-again-despite-its-recent-dip-below-31000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://coin-turk.com/analist-bitcoin-balinalarinin-amacini-acikladi" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/grayscale-bitcoin-trust-gbtc-lowers-the-critical-metric-to-the-lowest-levels-of-the-year/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>). This popular altcoin has shown an increase of nearly 10% since October 20. However, higher timeframe price charts indicate that the token is already following a higher upward trend.
<h2 id="critical-levels-in-ton">Critical Levels in TON</h2>
This rally started with the conversion of the local highest level of $1.53 into support in late August. This move led to a change in market structure and TON continued its upward trend. In mid-September, TONcoin rose from $1.538 to $2.599 in just one week, a movement of 62%. This rally was used to draw a series of Fibonacci retracement levels. Last month, TON dropped from $2.6 to $1.92.
Then, prices consolidated in the $1.92-$2.16 range. The recent BTC movement saw TON rise to $2.23, indicating a potential uptrend. However, indicators were not fully supportive of this idea. The Relative Strength Index (RSI) continued to move above the neutral 50 level on the four-hour chart, while the Chaikin Money Flow (CMF) remained below -0.05.
<img decoding="async" class="aligncenter wp-image-269918 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/ton.png" alt="" width="1940" height="1099">
<h2 id="signs-of-upside-in-ton">Signs of Upside in TON</h2>
Despite recent gains, the CMF showed significant capital outflow from the market. This indicates that TON is not yet ready for a real breakout and another rally. A move above $2.27 could be a good signal of strong upward intention. The Open Interest (OI) chart reached $2.6 during TON’s rally in September. Before making a higher bounce in the past ten days, there was a pullback in price at the beginning of October. This may reflect increasing bullish sentiment in the market.
A drop below $2.12 would put TON’s market structure in a bearish trend on the H4 chart. It could also indicate a potential retest of the $1.9 region, which represents the lowest levels of consolidation. Continue Reading: <a href="https://en.coin-turk.com/toncoin-ton-a-promising-altcoin-on-the-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/toncoin-ton-a-promising-altcoin-on-the-rise/</a>

TONcoin (TON): A Promising Altcoin on the Rise

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