- Toncoin coins have shown an impressive return of over 69% in the last three months.
- Toncoin (TON) has a liquidity of $2.9 Million.
- The fully diluted market cap of TON is $11.8 Billion.
Toncoin (TON) emerged as a decentralized Layer-1 blockchain in 2018, originating from the encrypted messaging platform Telegram. Following abandonment, the TON Foundation assumed control, leading to a rebranding from “Telegram Open Network” to “The Open Network.”
The TON coin has a total volume of over $32 Million. As per the charts the volume of the coin is increasing along with the increase in the price, this denotes the presence of bulls in the market.
The derivative open interest of the TON coin is $20.85 Million which increased by 0.30% in the last 24 hours as per the data by Coinglass. The increasing OI represents that the buyers are entering the market.
The TON coin has an FD market cap of $11.8 Billion and the total coin mined so far is 1,221,401,181 TON.
Toncoin (TON) Technical Analysis
The TON coin is currently moving in an uptrend direction. The price has shown a return of over 69% in the last three months and recently price has hit an all-time high of $3.21.
The price of the TON is moving in a rising wedge pattern, which is a positive pattern and the price has reversed after hitting the support level of $2.22 and the overall sentiments are indicating a price rise.
Technical Indicators Outlook About Toncoin
The price of the TON coin is moving above the 50-day and 100-day EMA levels. This placement is considered a positive pattern and this increases the probability of a price rise in the upcoming days.
Also, the RSI line and SMA line are trading above the 50 levels, which is considered as the positive tertiary. The price is about to form a positive crossover, indicating the dominance of sellers in the market.
Conclusion
As per the analysis, the price of Toncoin is moving upwards. The price has shown a return of over 69% in the last three months. The overall structure of the coin is positive and the indicators are also positive for the coin. Hence, if the price respects the support level and moves above, fresh highs can be created.
Technical Levels
- Support Levels: $2.21 and $1.99
- Resistance Levels: $2.55 and $2.76
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.