TON Price Soars: Ready To Hit The Double Digit Horizon Soon?

• The Toncoin price has jumped by 225% since March, demonstrating the bulls’ grip.
• Toncoin crypto has entered the top 10 in terms of market capitalization.

TON has been in a strong bullish trend and recorded an all-time high on June 15. After reaching an ATH, the price has shown weakness in the short term due to profit booking. However, the price recovered those losses and is heading for a new all-time high.

As per the technical chart, the Toncoin price struggled below the $2.50 mark throughout 2023. It triggered a breakout in January 2024 and has displayed strong buying pressure.

Toncoin was trading at $8.05 at press time, with an intraday gain of 4.05%. The market capitalization is $19.75 Billion, and it ranked 8th in the cryptocurrency market in terms of market cap. The 24-hour trading volume is $253.52 Million, which increased by 45% in the past 24 hours.

Can TON Price Gain 25% in One Go?

TON price has been on a bullish trend and has witnessed a sharp uptrend. The price has been rising by taking support at the 200-day EMA since March. TON is yet to surpass the last swing high and record an all-time high.

Over the past 10 days, the Toncoin price formed a small candlestick. However, on July 2, a strong bullish candle appeared.

The price has been rising by forming higher highs and higher lows for the past few months. The chart structure suggests that the bulls are eyeing a new high. If the buyers remain bullish on TON, the price may record a new all-time high and develop a new higher high.

On the other hand, sharp selling could be initiated if TON faces resistance from the last swing high. Bearish candlesticks at the top may result in panic selling because most investors might prefer to book profits.

Based on the technical indicators, the Toncoin crypto has traded over the key moving averages at press time. The histograms have turned green, and the MACD has developed a golden crossover with the Signal line sustained over the Zero line.

Toncoin Crypto Market Cap Growth

Toncoin Price to Climb Soon?

TON is currently in a strong bullish trend with the potential to reach new all-time highs. The price demonstrated considerable strength, and the market capitalization has grown significantly, positioning TON among the top 10 assets in the cryptocurrency market. 

The recent bullish momentum, supported by positive price movements and technical indicators such as the MACD and moving averages, suggests that TON may have bullish potential.

Technical Levels

The bullish momentum in the Toncoin price may disturb near the imaginary resistance levels of $10.00 and $12.00. The price may take support at the $7.00 and $4.80 mark.

Disclaimer

This article is for informational purposes only and provides no 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.