- The Toncoin (TON) token’s Open Interest is increased by 5.19% today.
- This crypto asset’s price is trading above the 50-day and 100-day EMA levels.
- The TON coin has given a return of 68.7% in the last three months.
Toncoin (TON) is a dynamic blockchain platform for smart contracts and decentralized applications. Initially established 2015 as a private consortium chain. Toncoin has since evolved into a public blockchain network. It made its debut in 2017 with the introduction of the ERC-20 token VEN.
The TON coin has recently exhibited a surge in open interest, which currently stands at $22.61 million, reflecting a 5.19% increase in today’s market session. This rise in open interest suggests an increased level of buyer activity and the establishment of new positions within the coin.
The TON token is currently trading at $2.22, experiencing a slight 0.26% dip in today’s market session. This minor pullback can be attributed to a retracement phase following a previous all-time high.
The coin’s price trajectory indicates an upward trend, encountering resistance at the $2.6 level. Over the past three months, the TON token has demonstrated strong performance with a remarkable 68.7% return. This positive performance signifies a promising outlook for the coin, with expectations of reaching new highs in the coming days.
The TradingView indicator widget reflects a bullish sentiment, with 12 out of 26 top indicators signaling a buying opportunity, while only a few indicators exhibit bearish tendencies.
The Toncoin (TON) Price Analysis
TON by writer50_tcr on TradingView.com
Toncoin’s coin prices are above the 50-day and 100-day EMA levels daily. It points toward a growing bullish trend, indicating the potential for a price rise soon.
Additionally, both the RSI and the 14-day SMA lines for the Toncoin (TON) token are situate near the 65 levels, which is recognize as the positive zone. That implies a potential rise in coin prices in the upcoming days.
Furthermore, the MACD line for Toncoin is positioned above the signal line, and both lines are situated above the zero line. This setup suggests the emergence of a strong pattern, heightening the likelihood of a future rise.
Conclusion
Based on the analysis, Toncoin (TON) displays a solid structure. The coin has given a positive return in the previous year, and recently, the price has hit a fresh all-time high. The OI of stock is also increasing. It suggests that the price to rise in the upcoming days is higher.
Technical Levels
· Support Level – $2.3
· Resistance Level – $2.64.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
