Toncoin

April

Notable

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/toncoins-notable-price-surge/" data-wpel-link="internal">Toncoin’s Notable Price Surge</a> 
Crypto <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> saw a correction at the beginning of the week, followed by a positive trend with a 1.89% increase in market value. In this market movement, Toncoin (TON) stood out with an impressive rise of over 10% in the last 24 hours and up to 25% in the last 7 days. Data also shows that TON’s <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> has risen over 185% since the beginning of the year, indicating that the technical altcoin is moving in an upward trend. 
<h2 style="text-align: justify" id="strong-toncoin-s-price-makes-noise-strong">Toncoin’s Price Makes Noise</h2> 
The recent rise in the price of Toncoin’s TON was particularly notable as it broke out from a significant resistance level that had restricted trading between $2.00 and $2.77 for over six months. This breakout signaled renewed upward momentum in the <a href="https://en.coin-turk.com/bittrex-us-to-resume-withdrawal-services-after-bankruptcy-ruling/" data-wpel-link="internal">crypto market</a>, leading to a significant rise in TON’s price. 
TON reached an all-time high of $7.65 on April 11, making a surprising jump of 270.16%, but this jump was followed by a correction of 39.86%, reducing the price to $4.60. After the announcement of an <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investment</a> by Pantera Capital in the Layer-1 project, the altcoin regained momentum and continued its current upward trajectory. 
<h2 style="text-align: justify" id="strong-what-s-next-for-ton-strong">What’s Next for TON?</h2> 
Currently, technical indicators such as the Relative Strength Index (RSI) show a significant increase in buying pressure in the crypto market, particularly on a daily timeframe. Additionally, an average upward curve is evident, indicating a positive outlook for TON’s price in the short term. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349936" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoin-Toncoin-TON.png" alt="" width="1435" height="757"> 
Looking ahead, if TON’s price holds above the $6.35 support level, it is expected to test the $7.25 resistance level with the support of the bulls. If the price holds above this level after the breakout, the altcoin could target the upper resistance level of $8 next week. 
However, if the upward trend reverses into a downward trend, TON could lose momentum and test the $6.35 support level by the weekend. Failure to regain momentum could lead the altcoin to trade in a downward trend and potentially fall towards the lower support level of $5.50. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/toncoins-notable-price-surge/" data-wpel-link="internal">Toncoin’s Notable Price Surge</a></h5>

Toncoin’s Notable Price Surge

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 10 мая 2024 г.

Is It Too Late To Buy RNDR? Render Price Pumps 12% After Apple Mentions Octane And This Might Be ...

Cardano Price Targets New Highs

CryptoQuant Report: Dencun Upgrade Shatters Ethereum’s ‘Ultra-Sound Money’ Status

President Joe Biden is trying hard to ‘kill crypto,’ says Cardano founder

ZKasino’s $31m ETH returned to team wallet after founder’s arrest

Fireblocks Global Custodian Partner Program: Secure Digital Asset Custody Goes Global

Join our free newsletter for daily crypto updates!