Shiba

Reserve

FOMC

Toncoin

Toncoin price gained tremendously as bulls ignored the widespread corrections impacting Bitcoin and most top altcoins, such as Dogecoin, Shiba Inu, and Bitcoin Cash.
This price uptick comes ahead of the US FOMC meeting later today. <a href="https://coingape.com/bitcoin-news-whale-bags-btc-worth-388m-ahead-us-fed-rate-decision/" rel="noopener noreferrer nofollow">Federal Reserve</a> officials are expected to uphold a dovish tone and keep rates unchanged at 5.25%—5.50%. Traders must prepare for some volatility following the FOMC meeting, considering the up-and-down price movement witnessed since Monday.
<h2 id="ton-and-trust-wallet-announce-integration">TON and Trust Wallet Announce Integration</h2>
Trust Wallet announced on July 30 that it is partnering with Toncoin for a strategic integration. This will allow Trust Wallet users to interact seamlessly with the Telegram ecosystem.
<blockquote class="twitter-tweet">
 Trust Wallet &amp; <a rel="noopener noreferrer nofollow" href="https://twitter.com/ton_blockchain?ref_src=twsrc%5Etfw">@ton_blockchain</a> are joining forces<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;">
 We’re working with the <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/TON?src=hash&amp;ref_src=twsrc%5Etfw">#TON</a> team to make the TON &amp; <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Telegram?src=hash&amp;ref_src=twsrc%5Etfw">#Telegram</a> ecosystem even more accessible to all <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/TrustWallet?src=hash&amp;ref_src=twsrc%5Etfw">#TrustWallet</a> users! Stay tuned for further updates.
 Explore <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> in Trust Wallet now<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a rel="noopener noreferrer nofollow" href="https://t.co/2J9OHmd6qS">https://t.co/2J9OHmd6qS</a> <a rel="noopener noreferrer nofollow" href="https://t.co/lq6CQaByRP">pic.twitter.com/lq6CQaByRP</a>
 — Trust Wallet (@TrustWallet) <a rel="noopener noreferrer nofollow" href="https://twitter.com/TrustWallet/status/1818254394519138420?ref_src=twsrc%5Etfw">July 30, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The TON Blockchain powers the Telegram ecosystem, spearheading decentralization through web3 initiatives. TON is among the fastest-growing networks in the industry, bringing together project founders, developers, and users.
Trust Wallet is a leading mobile crypto wallet that offers secure storage, buying, swapping, and managing of various cryptocurrencies and NFTs. It simplifies user interaction with <a href="https://coingape.com/glossary/decentralized-applications-dapps/" rel="noopener noreferrer nofollow">decentralized applications</a> (DApps) and supports multiple blockchains, making it a versatile tool for crypto enthusiasts.
<h2 id="toncoin-price-gains-after-key-support">Toncoin Price Gains After Key Support</h2>
Toncoin price finally found support at $6.5, an area reinforced by an ascending trendline, which allowed bulls to push for a trend reversal. Traders have been fighting a solid downtrend after TON topped at $8.28 all-time highs.
Bearish signals from the Moving Average Convergence Divergence (<a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">MACD</a>) and the Relative Strength Index (RSI) compelled traders to short Toncoin. The RSI had sustained downward movement in the neutral region since the beginning of July.
If the price stabilizes above the trend line by the end of the week, bullish momentum may increase, allowing for a potential breakout through the $7.5 resistance level and a subsequent move toward $10.
The MACD could confirm a buy signal on the daily chart and catalyze the uptrend. To leverage this indicator for Toncoin price, traders must first confirm the blue MACD line crossing above the red signal line amid a general upward trend to the neutral area before placing buy orders.
Initially, $7.5 is the primary profit target. However, if the price surpasses this level, Toncoin could rally to $8 and even enter a discovery phase aiming for new all-time highs.
<figure id="attachment_210289" aria-describedby="caption-attachment-210289" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-210289" src="https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25.png" alt="TON price chart | Tradingview" width="2694" height="1440" srcset="https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25.png 2694w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-300x160.png 300w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-1224x654.png 1224w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-768x411.png 768w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-1536x821.png 1536w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-2048x1095.png 2048w, https://coingape.com/wp-content/uploads/2024/07/TONUSD_2024-07-31_15-44-25-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-210289" class="wp-caption-text">
 TON price chart | Tradingview
 </figcaption>
</figure>
Conversely, a death cross pattern increases the risk of a continued correction below the trend line and support at $6. This pattern formed after the 20-day EMA flipped below the 50-day EMA. Depending on the strength of the headwinds, a more prominent sell-off to $5 cannot be ruled out.
The post <a href="https://coingape.com/markets/toncoin-price-targets-new-highs-after-ton-trust-wallet-integration/" rel="noopener noreferrer nofollow">Toncoin Price Targets New Highs After TON-Trust Wallet Integration</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Toncoin Price Targets New Highs After TON-Trust Wallet Integration

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