Greed

Value

Toncoin

Propel

Mode

<img decoding="async" width="1242" height="828" src="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg" class="attachment-full size-full wp-post-image" alt="Toncoin Price Prediction" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg 1242w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-1224x816.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-272x182.jpeg 272w" sizes="(max-width: 1242px) 100vw, 1242px">
The majority of major cryptocurrencies witnessed a notable selling pressure in the second week of June. This downfall was bolstered by <a href="https://coingape.com/bitcoin-etf-outflows-hit-228-2-million-amid-btc-price-dip-whats-happening/">Bitcoin miner’s capitulation</a> and significant outflow from U.S. listed ETFs, plunging the BTC price to a 4-week low of $64939 on Friday. Bucking the market correction, the Toncoin price has showcased a 20% growth this week to hit an all-time high of $8.25. Will the momentum persist, as the market hints at a prolonged downfall? 
Also Read: <a href="https://coingape.com/bitcoin-buy-the-dip-btc-price-drop-under-65000-can-create-havock/">Bitcoin Buy The Dip Calls Surge But BTC Price Drop Under $65,000 Can Be Fatal</a> 
<h2 id="b-crypto-com-listing-and-tvl-surge-propel-toncoin-price-to-new-heights-b">Crypto.com Listing and TVL Surge Propel Toncoin Price to New Heights</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/a/A6nQxsAZ.png" alt="OKX:TONUSDT Chart Image" width="1815" height="836">
 <figcaption class="wp-caption-text">
 Toncoin price| Tradingview
 </figcaption>
</figure> 
Over the past three months, the <a href="https://coingape.com/blog/toncoin-ton-price-hit-new-all-time-high-is-10-next/">Toncoin</a> has witnessed a sustained uptrend supported by an ascending trendline in the daily chart. This dynamic support has bolstered buyers to maintain a series of higher lows indicating the investors are actively accumulating the asset at mark dips. 
This recovery is also supported by a parabolic rally in Total Volume Locked (TVL). According to data from DefiLlama, the TVL on the Toncoin network has surged from $18 million in late February to $592 million currently, marking a remarkable growth of approximately 3189%. This substantial rise in TVL indicates strong investor confidence and increasing adoption of the Toncoin network. 
<figure id="attachment_202673" aria-describedby="caption-attachment-202673" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-202673" src="https://coingape.com/wp-content/uploads/2024/06/image_2024-05-13_23-06-12.png" alt="Total Value Locked" width="1028" height="655" srcset="https://coingape.com/wp-content/uploads/2024/06/image_2024-05-13_23-06-12.png 1028w, https://coingape.com/wp-content/uploads/2024/06/image_2024-05-13_23-06-12-300x191.png 300w, https://coingape.com/wp-content/uploads/2024/06/image_2024-05-13_23-06-12-768x489.png 768w, https://coingape.com/wp-content/uploads/2024/06/image_2024-05-13_23-06-12-150x96.png 150w" sizes="(max-width: 1028px) 100vw, 1028px">
 <figcaption id="caption-attachment-202673" class="wp-caption-text">
 Toncoin’s Total Value Locked| DefiLama
 </figcaption>
</figure> 
<blockquote>
 The current week was notably bearish for the broader market as <a href="https://coingape.com/bitcoin-whales-buy-the-dips-with-btc-exchange-supply-at-3-year-low/">Bitcoin</a> price plunged from $70000 to $64939. However, TON’s price showed notable resilience above the $6.73 mark and rebounded sharply to hit a new high of $8.288 today.&nbsp;
</blockquote> 
Also Read: <a href="https://coingape.com/markets/bitcoin-price-analysis-btc-wipes-pre-fomc-gains-markets-remain-greedy/">Bitcoin Price Analysis: What’s Next For BTC As Crypto Fear And Greed Index Nosedives</a> 
Earlier this week, the cryptocurrency exchange <a rel="nofollow" href="https://x.com/cryptocom/status/1800477284735873049">Crypto.com</a> announced the listing of <a href="https://coingape.com/markets/toncoin-price-hits-new-ath-as-active-addresses-surge-surpassing-ethereum/">TON</a> coins and enabled easy purchases with USD, EUR, GBP, and over 20 other fiat currencies. This listing is likely to enhance Toncoin’s visibility, increase its liquidity, and attract a broader investor base 
The Toncoin price currently trades at $8 and should seek support from the recently break resistance of $7.7. If the breakout sustains, the Traditional pivot level shows potential resistance at $9, followed by $10.6. 
On a contrary note, if the coin price slips below $7.7 flipped support, the buyers could rely on the aforementioned ascending trendline to keep the recovery trend intact. 
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">BB Indicator: The midline of <a href="https://coingape.com/education/bollinger-band/">Bollinger Band</a> indicators provides dynamic support indicating the buyers are leading a high momentum rally.</li> 
 <li style="font-weight: 400;" aria-level="1">ADX: The ADX rising at 21% indicates the current recovery is far from exhaustion and buyers could lead a prolonged rally in the near term.</li> 
</ul> 
The post <a href="https://coingape.com/markets/key-resistances-to-watch-as-toncoin-enters-price-discovery-mode/">Key Resistances to Watch As Toncoin Enters Price Discovery Mode</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Key Resistances to Watch As Toncoin Enters Price Discovery Mode

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