Rally

Toncoin

The post <a href="https://coinpedia.org/price-analysis/toncoin-surges-35-this-week-is-the-ton-price-rally-over/" rel="noopener noreferrer nofollow">Toncoin Surges 35% This Week! Is The TON Price Rally Over?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Despite the cryptocurrency industry experiencing mixed sentiment, the Toncoin price continues to trade under a bullish influence, indicating an increase in the bullpower for the altcoin in the market. Further, it has added 34.64% within the past seven days, and its YTD stands at 192.63%.&nbsp;
After displaying a neutral trend by trading in a closed range between $2.010 and $2.750 for over four months, the bulls gained momentum, resulting in the TON price recording a jump of 117.66% over the next eighteen days. Following this, the price faced rejection and traded sideways for a while.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/XboI60TmNKQBkCUeNWEYerAgBStgcYvIB9v6yuJmKAMTRIrcW-LWwCUmvcKtzlINDlxuLmiuVDFQdhtxvzJya9rZDIoHlw2xjoCLH5U90Tq5B2oo_SQpSDcHg8d8CU8MCyVtSBxDOvY1-sOIx3FU8Cs" alt="Toncoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: TON/USDT
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</figure>
As the volatility in the market grew, the bulls regained momentum and jumped 48.28%, after which it displayed a neutral trend. Recently, the bulls successfully broke out of the resistance level and since then, the price has been trading positively.
The technical indicator, MACD, displays a constant green histogram, indicating increased buying pressure in the crypto space. Moreover, the averages show a significant rise in the chart, suggesting a positive outlook for the altcoin in the coming time.
<h2 class="wp-block-heading" id="h-will-ton-price-increase">Will TON Price Increase?</h2>
If the market pushes the price above the resistance level of $7, the bulls will continue to gain momentum and test its upper resistance level of $7.750. Maintaining the price at that level will set the stage for the Toncoin price to attempt to test its upper resistance level of $8.50 in the coming time.
Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $6.250. Furthermore, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $5.50 this month.

Toncoin Surges 35% This Week! Is The TON Price Rally Over?

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