Rally

Bitcoin

Toncoin

The post <a href="https://coinpedia.org/price-analysis/toncoin-breakout-rally-eyes-10-next-week/" rel="noopener noreferrer nofollow">Toncoin Breakout Rally Eyes $10 Next Week</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Despite a drop in Bitcoin prices, leading to a drop in the altcoins sector, certain high performers are rising against the tide. One such performer is Toncoin, trading at its all-time highest levels.&nbsp;
With a breakout rally and a long-standing uptrend with higher high formations, the Toncoin witnesses a rise in trend momentum. Will the ongoing bull run in the TON price surpass $10 this week? Let’s find out.&nbsp;
<h2 class="wp-block-heading" id="h-toncoin-price-performance">Toncoin Price Performance</h2>
With a conservative growth of 6% in the last 30 days, the Toncoin price action shows a bullish trend continuation after a consolidation patch. Further, with a market cap of $18.50 billion, the altcoin is rising ranks in the crypto world and ranks at #9.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd5CiyD-NZxhJlypE0gDUMARZsDb6Qw8Mf3GSeHtO1fB9p5B_NWD1eD9y7zN1wcUoXal6HTip46BSFbrU6iaeZTVH7YbWCYFxIvMqCJk1ct_0La1ImBPWXxTJYq2QuqxHWPAtJYxdRREtoSnvreuRGJ8v2O?key=dnV_SI2pl_0WFUiAdjEEuQ" alt="">
</figure>
<a href="https://www.tradingview.com/x/bLjKm0V0/" rel="noopener noreferrer nofollow">Tradingview</a>
In the 1D chart, the bullish outcome of a triangle pattern leads to a breakout rally in Toncoin and reaches the $8 mark. Further, with a post-retest reversal, the TON price forms a triple white soldier pattern and a rise of 12% within 72 hours.&nbsp;
Currently, the TON price trades at $7.89 with an intraday growth of 1.54% and reveals a continuous rise in bullish momentum. As the trend momentum increases, the Toncoin may soon approach the $10 psychological mark.
Technical indicators:
EMA: The bullish trend in the 50D and 200D EMA’s underlying sentiments are positive.&nbsp;
MACD: By avoiding a bearish crossover, the MACD and signal lines maintain a positive flow with a rise in bullish histograms.&nbsp;
<h2 class="wp-block-heading" id="h-will-ton-price-hit-10">Will TON Price Hit $10?</h2>
In the daily chart, the trend-based Fibonacci retracement over the bull run in March, the uptrend breaks above the 50% level. This breakout rally increases the possibility of a bull run in the Toncoin. As per the Fibonacci levels, the uptrend could scale to the $10.05 mark next week, if the momentum sustains.&nbsp;
Further, with the post-retest rally picking up pace, a potential broader market recovery next week will pump the altcoin. Hence, the uptrend could continue above the $10 milestone in June.

Toncoin Breakout Rally Eyes $10 Next Week

Table of Contents

CoinPedia News

Other articles published on Jun 14, 2024

ZKsync Token Airdrop Will Be Launched on June 17 Despite Facing Bot Challenges

MoonBag Meme Coin Surpasses $2M, Set to Wrap Up Stage 5 Presale as Notcoin and Fetch.Ai Lose Inve...

Interoperability between mobile money and cards is enabling Africa’s access to the global financi...

Bitcoin Back Above $67K Despite $226M ETF Outflows On Thursday

PEDRO Price Surged Over 18% Intraday: Did The Sell-off Stop?

Crypto Nerves Rattle as Fear and Greed Index Reaches 70: How BTC, ETH & SOL Are Affected

Join our free newsletter for daily crypto updates!