Value

Toncoin

Million

Billion

Higher

<ul class="list-ic vertical">
 <li><span>1</span> <a>Toncoin price bounced off from the 100-day EMA mark by over 20% in the past two sessions.</a></li>
 <li><span>2</span> <a>Driven by buying pressure, its all-time high (ATH) mark was on the brink of being surpassed.</a></li>
</ul>
<p>The <strong>Toncoin </strong>exhibited a long rejection wick candlestick and bounced over 20% from its 100-day EMA mark in the last few sessions. By Reaching its monthly low mark of $6.30, the sellers failed to breach the region, and buyers entered aggressively.</p>
<p>This sharp move exhibited the signs of a bullish reversal and signified <strong>TON </strong>was cooking something bigger at press time. Its previous <strong>ATH mark</strong> of $8.27 was on the brink of being surpassed.</p>
<p>Amidst the market’s bearish move and broader selloff, the TON price stayed in the upside region and guided the bullish projections. Sellers attempted to initiate a breakdown but failed, and a fakeout was observed.</p>
<p>The <strong>Toncoin price</strong> retained the 20-day EMA mark and was sprinting toward the $8 mark. Until the support mark of $6 remains intact, the bullish projections can survive.</p>
<p>At press time, the <strong>Toncoin </strong>was trading at $7.58 with an intraday surge of 13.36%, reflecting neutrality on the charts. It has a monthly return ratio of -1.90% and 1.20% yearly, reflecting long consolidation.</p>
<p>The pair of TON/BTC was at 0.000134&nbsp; BTC, and the market cap was $18.65 Billion at press time. When writing, analysts were neutral and suggested that the <strong>TON price</strong> may register a breakout and cross its ATH mark soon.</p>
<h2 class="wp-block-heading" id="strong-could-toncoin-ton-reach-the-10-mark-this-month-strong"><strong>Could Toncoin (TON) Reach the $10 Mark This Month?</strong></h2>
<p>Fueled by the <strong>buying pressure</strong>, the buyers might stretch the bullish rally toward the $10 mark once the coin exceeds its ATH mark. The price action guides consistent higher high swings and guides the buyer accumulation.</p> <iframe loading="lazy" title="Santiment Chart: Price (TON), Volume (TON)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=elrond-egld&amp;pt=EGLD&amp;df=2024-01-06T18%3A29%3A59.348Z&amp;dt=2024-07-06T18%3A29%3A59.348Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Btoncoin%3BTON%5D%3B%5B1%3Bvolume_usd%3Btoncoin%3BTON%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">TON Price Chart&nbsp; Source: Santiment</p>
<p>The Relative Strength Index (<strong>RSI</strong>) curve stands close to the midline region and guides a positive crossover on the chart. Similarly, the MACD indicator displayed green bars on the histogram.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-data-witnessed-a-rise-strong"><strong>Price Volatility and Weighted Sentiment Data Witnessed a Rise</strong></h3>
<p>The Weighted sentiment data witnessed a positive stance, as it stays above the midline region, noted at the 0.458 mark.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (TON), Weighted sentiment (Total) (TON)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=elrond-egld&amp;pt=EGLD&amp;df=2024-01-06T18%3A29%3A59.348Z&amp;dt=2024-07-06T18%3A29%3A59.348Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Btoncoin%3BTON%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Btoncoin%3BTON%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p class="has-text-align-center">Weighted Sentiment Data&nbsp; Source: Santiment</p>
<p>Its price volatility data revealed a sharp spike, soaring over 54% to the 0.037 mark, highlighting the speculative move in the overnight session.</p>
<p>Per the Fib levels, the <strong><a href="https://www.thecoinrepublic.com/2024/06/12/toncoin-price-analysis-will-ton-price-break-the-8-mark/" target="_blank" rel="noopener noreferrer nofollow">TON price</a></strong> stands above the 61.8% level and is eyeing to retain the 78.6% mark.</p>
<h3 class="wp-block-heading" id="strong-futures-open-interest-data-revealed-sharp-long-additions-strong"><strong>Futures Open Interest Data Revealed Sharp Long Additions&nbsp;</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="229" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-1024x229.png" alt="Toncoin" class="wp-image-210625" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-1024x229.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-300x67.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-768x172.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-750x168.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67-1140x255.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-67.png 1404w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">OI Data &nbsp; Source: CoinGlass</p>
<p>Since March 2024, the buyers have persisted in adding severe longs in the TON, which led to the price rally.</p>
<p>The open interest data revealed a rise of over 9.30% to $301.23 Million in the last 24 hours.</p>
<h3 class="wp-block-heading" id="strong-sharp-surge-in-tvl-and-market-cap-strong"><strong>Sharp Surge in TVL and Market Cap&nbsp;</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="312" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-1024x312.png" alt="Toncoin" class="wp-image-210626" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-1024x312.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-300x91.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-768x234.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-1536x468.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-750x229.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68-1140x348.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-68.png 1591w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">TVL and Market Cap Data&nbsp; Source: DefiLlama</p>
<p>Since 2024, <strong>Toncoin </strong>has witnessed massive growth in its Total Value Locked (<strong>TVL</strong>), reaching the cliff of $691.02 Million.</p>
<p>Moreover, it took over <strong>Dogecoin </strong>and became the eighth-largest cryptocurrency by market cap. This sharp surge in the values represents the investors’ confidence and acceptability for the <strong>Toncoin</strong>.</p>
<p>Fueled by the sharp surge in whale buying activity, massive inflows in the coin were noted, which skyrocketed the price in the past few weeks.</p>
<p>The immediate support levels for the <strong>Toncoin </strong>are $7.20 and $6.70, whereas the key upside hurdle is around $2.40, followed by $</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>When writing, the <strong>TON price </strong>retained the 20-day EMA mark and was eyeing to cross its ATH mark in the upcoming sessions. The trend was intact, and buyers showed dominance, implying that further bullish waves could be seen ahead.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.</p>

Toncoin Retains Higher Levels Amid Market Turmoil: What’s Next

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Alte articole publicate pe 6 iul. 2024

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