Whisper

Based

2024

Toncoin

Wild Ride

Telegram-backed <a href="https://www.coingecko.com/en/coins/toncoin" target="_blank" rel="noopener nofollow">Toncoin (TON)</a> has been the talk of the crypto town lately, its price soaring to a record-breaking $8.15 before settling around $7.60. This dramatic rise, coupled with technical indicators flashing both caution and bullish signals, has investors on the edge of their seats, wondering: is this a short-lived party or the beginning of a major ascent? 
<h2 data-sourcepos="5:1-5:74" id="strong-cup-handle-hints-at-takeoff-but-tds-warns-of-bumpy-ride-strong">Cup, Handle Hints At Takeoff, But TDS Warns Of Bumpy Ride</h2> 
Analysts are divided on TON’s immediate future. Crypto technician Ali Martinez throws a bucket of cold water on the recent euphoria, pointing to a “sell signal” on the TD Sequential indicator. This suggests a potential price correction lasting 1-4 trading sessions. 
<blockquote class="twitter-tweet"> 
 The TD Sequential presents a sell signal on the <a href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Toncoin</a> four-hour chart, predicting a correction of one to four candlesticks for <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TON</a>! <a href="https://t.co/Yg4Da5PH8b" rel="nofollow">pic.twitter.com/Yg4Da5PH8b</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1804819155918451165?ref_src=twsrc%5Etfw" rel="nofollow">June 23, 2024</a>
</blockquote> 
Investors bracing for a dip should find solace in the Fibonacci retracement levels acting as potential support nets. These levels sit at $7.44, $7.29, and possibly even $7.18, offering TON a soft landing during the descent. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-626068" src="https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698" alt="" width="1024" height="698" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=1274 1274w, https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/A_54d60a.png?resize=1024%2C698?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
However, Ali’s short-term bearishness is countered by Alex Clay’s long-term bullish perspective. Clay, another crypto analyst, sees a bullish “Cup and Handle” pattern brewing on the charts. This pattern, historically a friend of bulls, suggests a continuation of the uptrend after a consolidation phase. 
The analyst further strengthens his bullish case by pointing to TON’s recent breakthrough of a major resistance zone, which is now expected to act as a springboard for further gains. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/TON?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#TON</a>/USDT Update <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TON</a> is consolidating above the broken supply zone<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 More upside is coming<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/ORgEnPEO7t" rel="nofollow">https://t.co/ORgEnPEO7t</a> <a href="https://t.co/LdwXBg2W6u" rel="nofollow">pic.twitter.com/LdwXBg2W6u</a> 
 — Alex Clay (@cryptclay) <a href="https://twitter.com/cryptclay/status/1804811498029556174?ref_src=twsrc%5Etfw" rel="nofollow">June 23, 2024</a>
</blockquote> 
<h2 data-sourcepos="11:1-11:51" id="strong-toncoin-s-technicals-whisper-of-further-ascent-strong">Toncoin’s Technicals Whisper Of Further Ascent</h2> 
Clay doesn’t stop at mere pattern recognition; he throws down some serious price targets. Based on the measured move of the Cup and Handle pattern, Clay predicts TON reaching a cool $10.50, with an even more ambitious target of $11.60. 
<img loading="lazy" decoding="async" src="https://www.tradingview.com/x/b3sIXrn0/" alt="" width="2475" height="1163"> 
Zooming into the one-day chart, technical indicators paint a similar picture. The price faces resistance around $7.65, a level it’s tested multiple times. If TON can muscle through this hurdle, the next stop could be a glorious $8.28. The 100-day EMA (Exponential Moving Average) at a supportive $6.01 further strengthens the bullish case, acting as a safety net if a correction does occur. Wild Ride Ahead 
While the TD Sequential indicator suggests a potential short-term correction, the technical indicators and bullish chart patterns hint at a strong possibility of TON continuing its upward trajectory.&nbsp;Investors should buckle up for a potentially wild ride, with short-term dips offering opportunities for those with strong stomachs and long-term vision. 
Featured image from Asia Crypto Today, chart from TradingView

Toncoin On Fire: Crypto Explodes To All-Time High – Can It Hit $10?

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