Toncoin

April

Billion

Rise

Trillion

<p>The post <a href="https://coinpedia.org/price-analysis/toncoin-records-breakout-rally-10-imminent-following-panteras-investment/" rel="noopener noreferrer nofollow">Toncoin Records Breakout Rally! $10 Imminent Following Pantera’s Investment?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The Toncoin (TON) price has recorded a massive bullish price action by adding significant valuation to its portfolio, following the announcement of Pantera Capital Investment in this Layer-1 altcoin.</p>
<p>Post-announcement, the <a href="https://markets.coinpedia.org/toncoin/" rel="noopener noreferrer nofollow">TON price</a> surged over 11% and continues to trade under a bullish influence. Furthermore, the 24-hour trading volume of TON price touched a high of $181.87 Million, a jump of 15.36% with its market cap reclaiming the $20 Billion mark.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/AUh9v5rsbQY7Qh7MOBT756mOGTV9QSrtTblCca9VGZ9JgFqk7VB8UbepcnRg9eVdDmh19QcM4bb-3-w5yyHeHaflCGWWJSwwcvXINHLIpQMpiWlpfR1nyJJVqX-YDZOazhGOQZtli89JQJCsAcDXxS0" alt="Toncoin Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: TON/USDT
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</figure>
<p>The Toncoin price displayed a strong bearish sentiment and recorded a correction of 36.55% in its valuation during April amid cross-border market correction. This resulted in the crypto market recording a 2-month low of $2.10 Trillion in its global market capitalization.</p>
<p>However, the crypto market regained momentum following the news of crypto asset manager giant Pantera Capital’s investment move in the prominent Layer-1 (L1) project, the Toncoin.</p>
<h2 class="wp-block-heading" id="h-toncoin-s-market-sentiments">Toncoin’s Market Sentiments:</h2>
<p>The Simple Moving Average (SMA) displays a bullish curve in the 1D time frame, highlighting a bullish influence for the altcoin in the crypto space.</p>
<p>On the other hand, the MACD shows a constant decline in the red histogram, indicating increased buying-over-selling pressure in the industry. Moreover, the averages show a bullish convergence, suggesting the price will continue gaining value in the coming time.</p>
<h2 class="wp-block-heading" id="h-will-toncoin-price-rise-back-up">Will Toncoin Price Rise Back Up?</h2>
<p>If the market continues to trade under a bullish influence, the TON price will test its resistance level of $6.350 this week. Maintaining the price at that level will set the stage for Toncoin to attempt to test its upper resistance level of $7.250 during the upcoming weeks.</p>
<p>Negatively, if the bears overpowered the bulls, the price would lose momentum and test its support level of $5.50. Moreover, if the bulls fail to regain power at that point, it will further plunge and fall toward its crucial support level of $4.60 this month.</p>

Toncoin Records Breakout Rally! $10 Imminent Following Pantera’s Investment?

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