Bitcoin

Toncoin

April

Toncoin Price Forecast: Since the beginning of May, the cryptocurrency market has been on a recovery path, with <a href="https://coingape.com/bloomberg-reveals-what-caused-bitcoin-eth-sol-xrp-shib-prices-to-crash/">Bitcoin</a> demonstrating stability above $60,000. Following Bitcoin’s lead, most major altcoins also gained momentum. Notably, the <a href="https://coingape.com/markets/toncoin-price-prediction-as-ton-eyes-10-on-hashkey-partnership-time-to-buy/">TON price</a> established a local bottom at $4.75 and experienced a V-shaped recovery. This bullish turnaround resulted in a 44% gain within two weeks and broke through the resistance of a falling wedge pattern, indicating the potential for a continued rally. 
Also Read: <a href="https://coingape.com/bloomberg-reveals-what-caused-bitcoin-eth-sol-xrp-shib-prices-to-crash/">Bloomberg Reveals Reasons Behind Bitcoin, ETH, SOL, XRP, SHIB Prices Crash</a> 
<h2 id="how-toncoin-s-correction-paves-the-way-for-a-surge-to-22-5">How Toncoin’s Correction Paves the Way for a Surge to $22.5</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/s/S3vyg70C.png" alt="OKX:TONUSDT Chart " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Toncoin Price| Tradingview
 </figcaption>
</figure> 
From April 10th to May 1st, the <a href="https://coingape.com/toncoin-bags-hashkey-listing-brace-for-price-rally/">Toncoin</a> price witnessed a steady correction under the influence of a flag pattern. The bearish reversal tumbled the asset value from $7.68 to $4.6 registering a loss of 40%. In theory, this chart pattern provides buyers with a short pullback to restore their strength and initiate the next leap. 
Furthermore, the retracement found suitable support at the 50% Fibonacci retracement level— a key area of interest known to offer renewed recovery momentum. As the <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price</a> recently reclaimed the $60000 mark, most of the major altcoins, including Toncoin witnessed a sharp reversal. 
<blockquote>
 On May 9th, the renewed buying force in TON price gave a decisive breakout from the pattern overhead trendline as a signal to resume the prevailing rally. The 4.66% intraday which propelled the altcoin to $6.7 provides a suitable follow-up for a bullish recovery.
</blockquote> 
With sustained buying, the Toncoin price could 38% to hit $9.23. However, a more ambitious target with respect to the bullish pattern is the $22.5 mark. 
Amid the potential rally, the coin price could be witnessed in between resistance at $7.67, $10, and $15. 
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The TON coin price climbing back above the 20 and 50-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> suggests a shift back to bullish sentiment in the short term, which aligns with its broader upward trend</li> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The daily ADX slope at 18% indicates the buyers have sufficient momentum to lead a prolonged rally as prior correction replenished the exhausted bullish momentum.</li> 
</ul> 
The post <a href="https://coingape.com/markets/toncoin-price-forecast-is-ton-recovery-heading-to-10-in-may/">Toncoin Price Forecast: Is $TON Recovery Heading to $10 in May?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Toncoin Price Forecast: Is $TON Recovery Heading to $10 in May?

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