2024

Strong

Toncoin

Impact

Toncoin (TON) is drawing considerable interest in the cryptocurrency market due to its strong price fluctuations and solid foundation. TON is ready for possible growth as interest and development in its ecosystem increase. This article delves into the main factors that could cause Toncoin to reach $10 in July, supported by technical analysis and recent progress its ecosystem. 
Market Performance of Toncoin (TON) 
<img decoding="async" class="aligncenter size-full wp-image-204902" src="https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606.png" alt="Market Performance of Toncoin (TON)" width="2496" height="1248" srcset="https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606.png 2496w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-300x150.png 300w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-1224x612.png 1224w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-768x384.png 768w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-1536x768.png 1536w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-2048x1024.png 2048w, https://coingape.com/wp-content/uploads/2024/06/Screenshot-2024-06-28-140606-150x75.png 150w" sizes="(max-width: 2496px) 100vw, 2496px"> 
Currently, TON is trading at $7.64, showing a minor increase of 0.05% in the past day, a 6.90% climb in the last week, and a notable 22.15% jump in the last month. According to <a rel="nofollow" href="https://coinmarketcap.com/currencies/toncoin/" target="_blank">CoinMarketCap</a>, Toncoin is ranked as the 8th largest cryptocurrency based on its market capitalization of $18.78 billion. 
Moreover, the trading volume has hit $268.33 million within 24 hours, indicating the increasing interest and activity in this digital asset. 
<h2 id="strong-why-toncoin-ton-price-might-reach-10-in-july-strong">Why Toncoin (TON) Price Might Reach $10 in July</h2> 
Let’s discuss various reasons TON might achieve the $10 milestone in July 2024. 
<h3 id="strong-1-strong-technical-indicators-strong">1. Strong Technical Indicators</h3> 
The <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> is an important tool used to determine trend direction and possible points of reversal. Toncoin is currently exhibiting a steady buy signal on the EMAs across different timeframes. 
The strong bullish trend of TON is confirmed by its current price being higher than all major EMAs. Investors usually view this as a good indication, indicating that the price is expected to keep rising. 
The <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> is an indicator that follows trends and momentum by revealing how two moving averages of a security’s price are related. Regarding Toncoin,&nbsp; although the EMAs suggest a bullish trend, the current MACD signal is indicating a sell. This difference could indicate a possible temporary decline or period of consolidation before resuming its upward movement. 
The RSI is a tool that assesses the pace and direction of price changes, commonly employed to recognize when a market is either overbought or oversold. 
A value of approximately 57 for <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> suggests that Toncoin is in a neutral market sentiment, with neither overbought nor oversold conditions. This neutral RSI suggests a steady trend with no imminent threat of a major pullback. 
Fibonacci retracement levels help pinpoint possible areas of support and resistance. Toncoin’s support levels are stabilizing at $4.80, while its resistance levels are positioned at $7.66 and $8.99. 
Toncoin could target the $8.99 resistance if it breaks above the current price near the resistance level of $7.66. On the other hand, any retreat may be met with suppport near the $6.13 pivot point or the $4.80 S1 level. 
<h3 id="strong-2-fundamental-analysis-the-impact-of-adsgram-strong">2. Fundamental Analysis: The Impact of Adsgram</h3> 
Adsgram, a recently launched traffic monetization tool on Telegram, enables developers to earn Toncoin by displaying ads in their mini-applications. This platform is anticipated to have a major effect on Toncoin’s ecosystem. 
It will enhance monetization in the GameFi industry and draw in additional developers to the TON network. 
Key Highlights of <a rel="nofollow" href="https://t.me/toncoin/1372" target="_blank">Adsgram</a>: 
<ul> 
 <li>Ad Formats: Includes 15-second video ads, static banners, and soon-to-be-released channel subscriptions.</li> 
 <li>Payment Options: Offers CPM and cost per thousand impressions, monitors click-through rates, conversions, and fill rates.</li> 
 <li>Income: Toncoin allows developers to make as much as $16 CPM.</li> 
 <li>Ad Network: Currently reaching 8 million impressions daily by May 2024.</li> 
</ul> 
The launch of Adsgram will probably boost the need for Toncoin as additional developers and advertisers become part of the ecosystem. This surge in demand could ultimately benefit Toncoin’s price in the long term. 
<h3 id="strong-conclusion-strong">Conclusion</h3> 
Toncoin’s current price action and technical indicators point towards an upward trend, backed by optimistic market outlook and key factors such as Adsgram. Although there may be short-term fluctuations, the long-term prospects for Toncoin are positive. Investors need to watch important resistance levels closely and observe any market condition changes that could affect the price direction. Given the ongoing progress in the TON system and the growing usage of Toncoin, it will be fascinating to observe the cryptocurrency’s performance in the upcoming months. 
The post <a href="https://coingape.com/blog/top-reasons-toncoin-ton-price-might-hit-10-in-july-2024/">Top Reasons Toncoin (TON) Price Might Hit $10 in July 2024</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Top Reasons Toncoin (TON) Price Might Hit $10 in July 2024

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