Toncoin

Rise

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/toncoin-gains-12-in-24-hours-sparking-investor-interest/" data-wpel-link="internal">Toncoin Gains 12% in 24 Hours, Sparking Investor Interest</a><br></p>
<p style="text-align: justify">In recent times, Toncoin (TON) has captured attention in the <a href="https://en.coin-turk.com/analyst-explaining-bitcoin-bottom-the-giant-altcoin-is-going-to-zero-everyone-bought/" data-wpel-link="internal">cryptocurrency market</a> with a sudden 12% surge in the last 24 hours, rekindling investor interest. This movement raises the question of whether TON, which shows potential to break the main trendline resistance, will enter a new uptrend.</p> 
<h2 style="text-align: justify" id="fundamental-dynamics-behind-toncoin-s-rise">Fundamental Dynamics Behind Toncoin’s Rise</h2> 
<p style="text-align: justify">With this impressive rise, Toncoin is trading at $7.12, eyeing the next critical resistance level at $7.28. However, whether this rise will be permanent is closely watched by <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and traders.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-380095 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/toncoin-ton.png" alt="" width="1485" height="867"></p> 
<p style="text-align: justify">Notably, the RSI (Relative Strength Index) indicator signals that Toncoin is approaching the overbought zone. This increases the likelihood of a correction movement in the short term. However, on-chain data shows that investors are in an accumulation phase before this correction, which could signal a potential rise.</p> 
<h2 style="text-align: justify" id="emergence-of-major-players">Emergence of Major Players</h2> 
<p style="text-align: justify">IntoTheBlock <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data reveals</a> that large transactions are occurring in the market, indicating increased interest from major players in Toncoin. Such accumulation phases are often seen as precursors to a significant breakout. This also signals increased confidence in TON among investors and the entry of large investors into the market. Additionally, data shows that 65.12% of TON addresses are in profit, which could increase investors’ desire to maintain their positions and achieve more gains.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-380096 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/ton.png" alt="" width="1200" height="800"></p> 
<p style="text-align: justify">On the other hand, liquidation data indicates a potential risk area for Toncoin at the $6.9 level. If it falls below this level, there is a possibility of $703,000 worth of TON being liquidated, which could increase selling pressure in the market. However, if the current buying pressure continues, a new wave of rise could start without falling below this level.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-380098 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/Binance-TON_USDT-Liquidation-.png" alt="" width="4080" height="2409"></p> 
<h2 style="text-align: justify" id="what-can-investors-do">What Can Investors Do?</h2> 
<p style="text-align: justify">Although Toncoin’s recent rise has captured attention in the cryptocurrency market, investors need to closely monitor the sustainability of this movement.</p> 
<p style="text-align: justify">Indicators pointing to the overbought zone signal a possible correction in the short term. However, on-chain data and large transactions are among the factors strengthening Toncoin’s future potential.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/toncoin-gains-12-in-24-hours-sparking-investor-interest/" data-wpel-link="internal">Toncoin Gains 12% in 24 Hours, Sparking Investor Interest</a></h5>
<p>The post <a href="https://en.coin-turk.com/toncoin-gains-12-in-24-hours-sparking-investor-interest/" data-wpel-link="internal">Toncoin Gains 12% in 24 Hours, Sparking Investor Interest</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Toncoin Gains 12% in 24 Hours, Sparking Investor Interest

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