- The TON crypto price has been trading flat for the last seven days.
- The TVL of the TONCOIN has been static for a long time as per DefiLlama.
TON Crystal is a cryptocurrency that powers the TON blockchain, a scalable and interoperable network that uses sharding to connect different blockchains. TON Crystal is used for transactions, computation, governance, and incentives on the TON platform.
The spot trading volume and the derivatives trading volume for Toncoin have together witnessed a decline in the last 24 hours. The spot volume has declined by 31.8% while the derivatives volume has declined by 50.6%. This decline in the volume shows the losing interest of traders in the crypto.
The market cap of the Toncoin is trading flat witnessing a decline of 0.2% in the last 24 hours. It has resulted in a value of $8.004B, which makes it the 15th largest cryptocurrency in the global crypto market.
As per Coingecko, the market cap dominance of Toncoin is 0.454% and the volume/market cap ratio of the crypto is 0.004. Moreover, the TON token price has advanced by 342% from its all-time low price.
TonCoin Token Overview
The max supply of the Toncoin is infinite while the total supply of the crypto is limited to 5.1B TON. Moreover, the circulating supply of the crypto is 3.455B TON and the fully diluted market cap is $11.832B.
TON Crypto Technical Analysis
The TON crypto price is trying to regain the higher level but is witnessing selling pressure and rejection from the higher levels. That’s because a strong resistance level of the crypto is situated at the higher levels.
Moreover, if the crypto price breaks above the level of $3.00, it will result in a change of character to bullish and breakout above a crucial resistance level. This breakout can lead the token price to much higher levels. Therefore, traders must keep an eye on the crypto price.
TON/USD Chart by TradingView
The RSI is also following a bullish cycle and has also recently crossed above the 50-level and the 14-day, indicating a strong presence of buyers and buying momentum in the crypto price.
The 50-day and the 200-day EMAs are trading in a golden cross on the daily timeframe chart of the TON crypto. The trading price of the crypto is also above the EMAs indicating buyers’ dominance in the price.
Conclusion
TON crypto has shown a stable performance in the past week, despite the low volume and market cap. The technical analysis suggests a possible breakout above the wedge and the resistance level of $3.00, which could lead to new all-time highs. TON token has the potential to grow further in the future.
Technical Levels
Support Levels: $1.1640 and $1.9500
Resistance levels:$3.500 and $4.500
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.