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
 </figcaption>
</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?

Table of Contents

CoinPedia News

Autres articles publiés le 10 avr. 2024

Bitcoin’s Price Fails To Hold $69k Following Today’s CPI

Etherfi Leads Liquid Staking Charge with $3.8 Billion TVL

Can WIF Rebound from Recent Price Drop and Hit New All-Time High This Pre-Halving Season?

Shiba Inu (SHIB) Skyrockets into Top Ranks With New Major Index Inclusion

Sell signal for an overbought cryptocurrency this week

Fezoo presale attracts Litecoin and Cardano investors seeking growth

Join our free newsletter for daily crypto updates!