Notcoin

bullish

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Toncoin

<p>The post <a href="https://coinpedia.org/news/is-toncoins-ton-bullish-breakout-an-indicator-of-similar-price-action-on-bitcoin/" rel="noopener noreferrer nofollow">Is Toncoin’s (TON) Bullish Breakout an Indicator of Similar Price Action on Bitcoin?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The altcoin industry has signalled an inevitable bullish move ahead despite the heightened fear of further capitulation by the end of August and September. Bitcoin’s (BTC) dominance has already flashed a potential cycle top after reaching a high of about 57.67 per cent.&nbsp;</p>
<p>Amid the anticipated historical altseason anticipated ahead, the crypto cash rotation to large-cap altcoins can be noticed.&nbsp;</p>
<p>Furthermore, the approval of several spot Ethereum ETFs in the United States, the approval of the first spot Solana ETF in Brazil, and the conclusion of the SEC vs Ripple case have set the ball rolling for the altcoin industry.</p>
<h2 class="wp-block-heading" id="h-toncoin-ton-price-bullish-breakout">Toncoin (TON) Price Bullish Breakout</h2>
<p>Telegram-backed Toncoin (TON), a fast-growing layer-one network, has front-ran most of the crypto assets since its bullish breakout to an all-time high earlier this year. The web3-based blockchain has a total value locked of nearly $600 million and a stablecoins market cap of over $619 million.</p>
<p>Toncoin’s strategic partnerships, including with Tether USDT, and the thriving gamifi projects, led by Hamster Combat and Notcoin (NOT) have helped increase TON’s bullish outlook.</p>
<p>Additionally, Toncoin’s recent listing on Binance, the largest cryptocurrency exchange by users and daily traded volume, has helped propel TON’s price in a bullish outlook.</p>
<p>According to the latest market data, the TON price has pumped over 8 percent since Monday to trade around $6.66 on Thursday during the early European session. However, the altcoin must convert the 50-day Moving Average (MA) to a support level to maintain a bullish momentum ahead.</p>
<h2 class="wp-block-heading" id="h-fractal-pattern-with-bitcoin-price-action">Fractal Pattern With Bitcoin Price Action</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Is <a href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Toncoin</a> leading the way for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>? If so, we could see <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> hitting $64,000 next! <a href="https://t.co/V9oAhLY499" rel="noopener noreferrer nofollow">pic.twitter.com/V9oAhLY499</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1823796071887462718?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
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<p>According to a reliable crypto analyst Ali Martinez, Bitcoin price could soon rally towards $64k, if a similar fractal breakout with TON price happens. After facing significant resistance around $61k, following the death-cross between the daily 50 and 200 MAs, Bitcoin price has dropped towards the support level of about $58k.</p>
<p>From a technical standpoint, Bitcoin price is on the verge of a major breakout on either side, which will define the price action in the coming months.</p>

Is Toncoin’s (TON) Bullish Breakout an Indicator of Similar Price Action on Bitcoin?

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