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
 </figcaption>
</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?

Table of Contents

CoinPedia News

Other articles published on Jun 12, 2024

3 festivals in a single weekend on art and new technologies in Lugano in the Canton Ticino (Switz...

Donald Trump Wants Bitcoin ‘Made In The USA’ After Hosting Mining Industry Heads

Why Oasis (ROSE) Is Up By 10% Today

The Role of Bitcoin as a Safety Net in Unstable Economies

Ledgible Launches Tax Solution for Tokenized Real Assets

Can XRP Repeat Its 2017 Rally? Analyst Sees Eerie Similarities

Join our free newsletter for daily crypto updates!