Toncoin

Resistance

Convergence

Rise

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/toncoin-price-analysis-ton-price-to-record-massive-correction-soon/" rel="noopener noreferrer nofollow">Toncoin Price Analysis: TON Price To Record Massive Correction Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto market continues to display a weak price action since the week’s start with top crypto tokens failing to hold their respective values above their important support levels. This indicates a cool-off period in the crypto space, further indicating a potential accumulation period for the upcoming bull run.</p>
<p>However, after recording a correction of 4.57% within the last seven days and 3.53% over the past 30 days, the <a href="https://coinpedia.org/price-prediction/toncoin-price-prediction-2024-2030-will-ton-price-hit-10-in-q2/" target="_blank" rel="noopener noreferrer nofollow">TON coin price</a> has recorded a bullish jump of 3.85% within the past day, indicating a high possibility of a trend reversal during the upcoming days.</p>
<h2 class="wp-block-heading" id="h-ton-coin-price-on-the-verge-of-testing-its-important-resistance-level">TON Coin Price On The Verge Of Testing Its Important Resistance Level:</h2>
<p>Amid increased bearish sentiment in the crypto space, the <a href="https://markets.coinpedia.org/toncoin/" target="_blank" rel="noopener noreferrer nofollow">Toncoin price</a> continues to trade in a closed range between $6.220 and $7.400. However, the Layer-1 token has displayed a positive price action over the past 24 hours and is on the verge of testing its resistance level, the outcome of which is uncertain.</p>
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcmkd7SnFUA0oBzcWQ9UDj1juTyrsMIspL46w5Rq9BVJRZRNwHpy7N9c2dfHBGdeVPg1dWDUsgovg3SpySVVj3PfqgoRMsHkliKyyWErfXgsx15PyrlYQZGOBSL0vzoySrekLW3x7R4Y4LS7-HRoAst0XI?key=eXOjodiiaWGjI0KN2Usv9w" alt="Toncoin Price Analysis" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
  TradingView: TON/USDT
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</figure>
<p>With a trading price of $7.126, a circulating supply of 2,431,770,634 TON tokens, and a market capitalization of $$17,248,976,960, the Toncoin (TON) crypto continues to hold its position in the list of top 10 cryptocurrencies by valuation in the global crypto market.</p>
<p>The technical indicator, SMA, has displayed a bearish crossover in its price chart, highlighting an increase in the bearish price action for the altcoin in the cryptocurrency market.</p>
<p>The Moving Average Convergence Divergence (MACD) shows a constant decline in the green histogram, indicating an increase in the negative influence in the crypto space. On the other hand, the averages record a potential bearish convergence in the 1D time frame.</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 pushes the Toncoin crypto price above the resistance level of $7.40, the bulls will prepare to retest its previous all-time high (ATH) by the upcoming week. Maintaining the price at that level will set the stage for the TON price to head toward the $8.60 mark.</p>
<p>Negatively, if the bears gain control over the bulls, the TON token will fall toward its support level of $6.220. Furthermore, if the bulls fail to regain momentum, the Toncoin will plunge further and test its crucial support level of 5.155 this month.</p>

Toncoin Price Analysis: TON Price To Record Massive Correction Soon?

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