Based

bullish

Toncoin

<ul>
 <li>Toncoin's recent breakout indicates a potential 15% price increase.</li>  
 <li>Trading volume surged 103%, reflecting heightened interest and bullish sentiment.</li>  
 <li>On-chain metrics support a positive outlook, with key resistance levels holding strong.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/top-altcoins-poised-for-major-gains-in-2024-notcoin-jupiter-solanatoncoincardano/" target="_blank" rel="noopener noreferrer nofollow">Toncoin (TON)</a> has recently faced a sharp decline of over 35%. However, the token is now gearing up for a significant rebound. The price action indicates a bullish trend, with a breakout from a key support zone and a descending trendline on the four-hour chart. As the post below suggests, TON is bullish in the meantime.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/_TOBTC/status/1833259113016660060
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-price-surge-and-increased-trading-volume">Price Surge and Increased Trading Volume</h2>  
<p>On September 9, 2024, Toncoin saw an impressive price increase of over 10% in just 24 hours. The current trading price stands at approximately $5.11.&nbsp;</p>  
<p>During this period, trading volume surged by 103%, reflecting heightened trader activity amid the recovery. This recent price surge has broken through critical patterns, including a five-day consolidation near $4.50 and a descending trendline.</p>  
<h2 class="wp-block-heading" id="h-technical-analysis-points-to-a-potential-upswing">Technical Analysis Points to a Potential Upswing</h2>  
<p>According to different analysts', <a href="https://coinmarketcap.com/currencies/toncoin/" target="_blank" rel="noopener noreferrer nofollow">Toncoin</a> appears strongly bullish. After the recent breakout, the token has closed a four-hour candle above a significant resistance level. Based on historical price trends, there is a strong possibility that Toncoin could experience a 15% increase. Some analysts believe TON might reach the $6 level soon.</p>  
<h2 class="wp-block-heading" id="h-on-chain-metrics-support-the-bullish-outlook">On-Chain Metrics Support the Bullish Outlook</h2>  
<p><a href="https://glassnode.com/" target="_blank" rel="noopener noreferrer nofollow">On-chain metrics</a> also suggest a positive outlook for Toncoin. The Long/Short ratio from Coinglass stands at 1.082, indicating a bullish market sentiment. Additionally, Toncoin’s future open interest has risen by 9% in the last 24 hours, signaling strong buying interest. As of writing, 51.83% of top traders hold long positions in Toncoin, while 48.17% are short.&nbsp;</p>  
<p><a href="https://cryptonewsland.com/toncoins-bearish-pattern-signals-trouble-can-it-reclaim-its-4-70-support/" target="_blank" rel="noopener noreferrer nofollow">Major liquidation levels</a> are around $4.80 on the downside and $5.17 on the upside. Traders are showing increased leverage at these levels, according to Coinglass data. Both technical analysis and on-chain metrics suggest that Toncoin is set for a promising rally. With rising trader interest, the token could see a notable 15% increase in the near future.</p> 
<p>The post <a href="https://cryptonewsland.com/toncoin-poised-for-15-surge-recovery/" rel="noopener noreferrer nofollow">Technical Analysis Shows Toncoin’s Path to a 15% Surge After Recent Decline</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Technical Analysis Shows Toncoin’s Path to a 15% Surge After Recent Decline

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