hi
Covenant x402
Boomer
Claudia
Lighter
NEAR Protocol
Injective
- The current trading price of TON is $1.6952 and it has declined by 1.27% in the last 24 hours.
- Toncoin is based on Smart Contract Platforms.
The TON coin is based on a POS consensus mechanism and was launched on August 19, 2021. It is often used for payment for computation. Developers often use TON crystals to interact with smart contracts.
Toncoin has a market cap dominance of 0.545% and is trading with a volume/market cap ratio of 0.0026, following a market cap rank of #12. The long/short of the crypto as per derivative data is 1.0383 and the derivative volume has advanced by 17.32% in the last 24 hours.
The TON crypto has a total supply of 5.04 Billion TON and the current circulating supply of the crypto is 3.43 Billion TON following an infinite maximum supply of the crypto. The fully diluted market cap of the cryptocurrency is $8.54 Billion. The market cap of the crypto has declined by -3.84% in the last 24 hours, resulting in 5.80 Billion USD but the volume of the crypto has advanced by 24.07%, which indicates that the sellers are entering the market. This can lead to a further decline in price.
TonCoin Price Technical Analysis
The price of crypto is advancing from its lower levels and has been making higher highs and higher lows. This formation of a swing led to a change in the character of the market to bullish and the market is currently retracing from the higher levels. If it sustains above $1.4900, then we might get to see a continuation of the trend.
As the price was in a downtrend for a very long time, the 50-day and the 200-day Exponential Moving Averages are trading in a death cross, but the price has broken out above the 200-day EMA and is currently taking support at the same time. Therefore, if the price makes a bullish candlestick pattern at the current levels, then the trend might continue to higher levels.
The RSI value has hit the overbought zone and is currently trading above the 50-level; this indicates the RSI is in a bullish zone, indicating further bullishness in the market.
TonCoin Volume Analysis
Based on the derivatives volume chart, there is a significant spike in the volume of the crypto, which means that there is a good amount of trading activity going on in the crypto.
Conclusion
The TON crypto price has changed its character to bullish and is currently trading in an uptrend, making higher highs. The volume of the crypto has also advanced in recent days, and the RSI is bullish for the crypto while the EMA’s are building up for an uptrend as the price is trading above the EMA’s.
Therefore, the price of the crypto can advance to higher levels if it sustains above the last swing level of $1.4900, and if it fails to do so, then the price may get volatile and bearish.
Technical Levels
- Support Level: $0.9900 and $0.1.2600
- Resistance Level: $2.06 and $2.480
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
