Bitcoin

Toncoin

when

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/toncoin-price-surges-to-7/" data-wpel-link="internal">Toncoin Price Surges to $7</a><br></p>
<p style="text-align: justify"><strong>TON</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> increased by about 15% today, surpassing the $6.50 resistance and reaching $7. This price increase indicates that the cryptocurrency has gained solid momentum and is performing better than other major cryptocurrencies like Bitcoin and Ethereum. So, what levels should be watched for Toncoin?</p> 
<h2 style="text-align: justify" id="toncoin-s-rise-continues">Toncoin’s Rise Continues</h2> 
<p style="text-align: justify"><strong>Toncoin</strong> has recently seen a strong increase from the $5.60 support area, breaking above the $6.20 resistance level. It even gained nearly 15% in value in one day, capturing significant upward momentum. It is currently trading close to $7.00, and the price has entered a consolidation phase just below this level.</p> 
<p style="text-align: justify">According to <a href="https://en.coin-turk.com/blackrocks-ishares-ethereum-trust-application-signals-a-new-era-for-cryptocurrencies/" data-wpel-link="internal">technical analysis</a>, the price is near the $6.80 area and is trading well above the 100-hour Simple Moving Average. This indicates a positive short-term outlook. Additionally, an important parabolic curve is observed on the hourly chart of the TON/USD pair at the $6.80 support. However, if the price falls below this level, a downward correction could begin.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349945 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ton-2.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Currently, the resistance level is around $6.92, and the first key resistance level is around $7.00. A close above this resistance area could signal further increases. The next key resistance level is near $7.20. If bulls continue to move above this level, a rally towards the $7.55 resistance could begin. Further upward movement could push the price towards the $8.00 resistance.</p> 
<h2 style="text-align: justify" id="if-ton-price-enters-a-downtrend">If TON Price Enters a Downtrend!</h2> 
<p style="text-align: justify">Firstly, when moving downwards, the $6.80 level emerges as an important support. This level is near the parabolic curve, and the price might try to hold here. However, if it falls below this level, a drop towards $5.61 could occur.</p> 
<p style="text-align: justify">When examining technical indicators, it is seen that the MACD is losing momentum in the bullish zone for TON/USD. This could indicate that the price might weaken. Similarly, the hourly RSI (Relative Strength Index) is above the 70 level, which could be a sign of overbought conditions.</p> 
<p style="text-align: justify">For <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>, the main support levels are set at $6.80 and $6.60. Breaking below these could signal the start of a larger downtrend. However, if the price rises above the resistance levels of $6.90 and $7.00, an upward movement could continue.</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-price-surges-to-7/" data-wpel-link="internal">Toncoin Price Surges to $7</a></h5>

Toncoin Price Surges to $7

Table of Contents

COINTURK NEWS

Autres articles publiés le 10 mai 2024

Bloomberg Reveals Reasons Behind Bitcoin, ETH, SOL, XRP, SHIB Prices Crash

BREAKING: JPMorgan, Largest Bank in the US, Announces It Owns Bitcoin Spot ETF Holdings

Our Top 3 Cheap Altcoins For May 2024

Giant Lending Platform BlockFi Announces That Its Website Will Be Closed! User Moved Their Funds ...

Recent Volatility in Bitcoin Prices

Toncoin skyrockets 15% amid choppy market, Here’s why

Join our free newsletter for daily crypto updates!