bullish

Toncoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/toncoin-sees-short-term-price-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Sees Short-Term Price Surge</a><br></p>
<p style="text-align: justify">Toncoin’s price is experiencing a short-term upswing, generating optimism among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> of the Telegram-based <a href="https://en.bitcoinhaber.net/exploring-bonk-coins-trading-dynamics-and-investor-strategies" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a>. As demand escalates, the potential for substantial gains increases, with the price possibly surpassing the month’s highest resistance level of $7.07.</p>
<h2 id="what-s-driving-toncoin-s-growth">What’s Driving Toncoin’s Growth?</h2>
<p style="text-align: justify">The current price movement is crucial as it has been rigorously tested both as resistance and support. Breaking through this level could significantly impact investor portfolios. Data from the Global In/Out of the Money (GIOM) indicator shows that investors bought 803 million TON between $6.16 and $6.85. With the altcoin trading at $6.52, nearing the upper boundary, this supply could become profitable, spurring further demand and a continued upward trend.</p>
<p style="text-align: justify">Investor sentiment is shifting positively, as evidenced by the funding rate turning positive for the first time in two weeks. This indicates a significant change in market sentiment, with the cost of holding long positions now exceeding that of short positions. Consequently, investors are showing increased optimism.</p>
<h2 id="ton-price-analysis">TON Price Analysis</h2>
<p style="text-align: justify">The positive funding rate suggests that long contracts are beginning to dominate the market. As more investors lean towards upward price movements, the market could be signaling a potential bullish trend in the near future.</p>
<p style="text-align: justify">Toncoin’s price could continue its current trend, charting a gradual recovery. Surpassing the $7.07 resistance would renew demand, making a rise to $7.53 feasible. This level hasn’t been tested since mid-July. If Toncoin turns this into support, it could aim to surpass its all-time high of $8.28.</p>
<h2 id="key-investor-insights">Key Investor Insights</h2>
<p style="text-align: justify">– Overcoming the $7.07 resistance is critical for sustained upward movement.<br> – The recent positive shift in the funding rate indicates growing market optimism.<br> – Achieving profitability for the 803 million TON purchased between $6.16 and $6.85 could trigger further price increases.</p>
<p style="text-align: justify">Failing to breach the $7.07 resistance would result in consolidation between this resistance and the $6.43 support. This could invalidate the bullish outlook and extend the waiting period for investor profits, emphasizing the importance of the $7.07 level in Toncoin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future trajectory</a>.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/toncoin-sees-short-term-price-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Sees Short-Term Price Surge</a></h5>

Toncoin Sees Short-Term Price Surge

Table of Contents

BH NEWS

Other articles published on Aug 22, 2024

Is Your Portfolio Ready for the Next Crypto Takeoff? Then MoonBag’s Presale Excellence

Traditional Finance Overlooks Bitcoin's Massive Growth: Franklin Templeton

Cardano (ADA) Prediction for August 22

What is the future of Central Bank Digital Currencies (CBDCs)?

Gemini Crypto Exchange to End Support for LUNC, SNX, QRDO, ZBC Next Month

Analyst Discusses Bitcoin’s Struggles with Resistance Levels

Join our free newsletter for daily crypto updates!