TapSwap will launch its TAPS token on BNB Chain rather than The Open Network, following a TON exclusivity pact with the messaging platform.
While the broader cryptocurrency market appears to be gradually recovering, Toncoin (TON) has yet to join the upward trend. Over the past week, TON has faced significant challenges, seeing its price dip by 5.4%. Amid this price performance, a CryptoQuant analyst has highlighted signs of a potential reversal, especially as recent data sheds light on underlying market dynamics that could impact the coin’s near-term trajectory. Related Reading: Is Toncoin Price Gearing For A Rebound At $5? This On-Chain Metric Suggests So Toncoin Open Interest and Potential Reversal Signals The CryptoQuant analyst Joao Wedson has provided an intriguing perspective. In a recent post titled “TON: Signs of a Reversal?” Wedson highlighted a pattern within the open interest data that could hint at a price rebound. This analysis comes at a critical time, with market participants seeking any indicators that TON might stabilize and regain lost ground. Wedson’s analysis centers around the weekly variation in Toncoin’s open interest—a measure of the total number of outstanding derivatives contracts on the asset. According to the data, the open interest delta has shown a consistent increase whenever TON experiences volatility spikes. Historically, these patterns have been observed ahead of significant price surges, raising the possibility that a similar recovery could be on the horizon. TON: Signs of a Reversal? “We’ve observed a pattern where the Open Interest Delta increases with each volatility spike—a behavior that previously preceded a sharp price surge.” – By @joao_wedson Full analysis ????https://t.co/FC8q4QYIp6 pic.twitter.com/5luN5VojDn — CryptoQuant.com (@cryptoquant_com) January 29, 2025 TON Market Performance In recent weeks, TON’s price action has been noticeably less bullish. Even as the broader cryptocurrency market experiences gradual gains, TON has struggled to recover, consistently declining and now down roughly 11% over the past two weeks. This divergence from the broader market’s upward momentum may suggest that TON is facing its own bearish pressures, whether driven by chart patterns or on-chain factors. Related Reading: Toncoin Gears Up For A Fresh Rally With Bullish Momentum Building For instance, Renowned crypto analyst Ali recently highlighted that TON has faced significant transfers to exchanges signaling increasing sell-offs. Over 240,000 #Toncoin $TON have been transferred to exchanges in the past week, potentially signaling increased selling pressure as shown by on-chain data from @santimentfeed! pic.twitter.com/FF9BBEMJzL — Ali (@ali_charts) January 29, 2025 Although TON is trading at $4.84 as of now, up 0.4% on the day, this small increase has not been enough to lift the asset out of its current correction. The continued decline in TON’s price has not only reduced its market capitalization but also significantly diminished its daily trading volume. Featured image created with DALL-E, Chart from TradingView
Farm Frens will still launch its token on Base, but the developers said that Telegram's exclusive embrace of TON has caused issues.
The cryptocurrency market was in a somewhat uncertain phase over the past week following the inauguration of Donald Trump as President of the United States. This uncertainty is demonstrated by the diverse performance of various assets in the market. The Toncoin price, for instance, experienced an almost 9% price decline in the last seven days, giving emphasis to the bearish half of the market. According to the latest on-chain data, the cryptocurrency might be preparing for a price rebound after its recent struggles. Is It Time To Buy Toncoin? In a Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Maartunn shared their latest on-chain observations and how it could offer into TON’s price trajectory. The relevant metric here is the Normalized Risk metric (NRM), which evaluates the price risk of an asset compared to its historical price data. Related Reading: XRP Consolidates Near Key Levels: The Implications Of A Breakout This on-chain indicator can be used to determine whether a cryptocurrency (Toncoin, in this case) is in a favorable or unfavorable risk position. Typically, the value for the Normalized Risk metric ranges from 0 to 1, with values closer to 0 signaling lower risk while values closer to 1 signaling higher risk. As observed in the highlighted chart, the Normalized Risk’s value is currently closer to zero, implying that the TON price is approaching the low-risk territory. Historically, low values of this metric have been correlated with local price bottoms for Toncoin. For example, the price of TON slumped to around $5.3 before climbing to $6.8 in August 2024 while the Normalized Risk metric was well beneath 0.1 at the time. Similarly — about a month later, the altcoin’s price jumped to $5.9 after sliding down to $4.6 while the Normalized Risk indicator was around 0.1. Nevertheless, Maartunn noted that it may take some time for this indicator to “fully bottom out and reach its lowest risk level.” Nevertheless, recent on-chain data suggests that the Normalized Risk metric is nearing a key turning point, implying a strong rebound might be on the cards for the TON price. TON Price Overview As of this writing, the price of Toncoin stands at around $5.08, reflecting a mere 0.7% increase in the past 24 hours. This sluggish single-day action underscores the uncertainty in the market — and to be frank, Toncoin’s struggles over the past few weeks. Related Reading: Solana Compresses Near Previous ATH – Gearing Up For The Next Leg Higher? The TON price has been unimpressive on broader timeframes, failing to successfully break above the $6 mark in the past month. According to data from CoinGecko, the altcoin’s value has declined by nearly 15% in the past month. Featured image from Unsplash, chart from TradingView
Toncoin is showing promising signs of recovery, with bullish momentum gradually building as renewed buying interest suggests a shift in market sentiment. After a period of consolidation, the cryptocurrency is gaining traction, fueling optimism for a fresh rally. The steady increase in trading activity and improving technical indicators highlight the bulls’ intent to challenge critical resistance levels, which could set the stage for a stronger upward trajectory. However, the path to recovery faces potential obstacles, including resistance barriers and profit-taking by short-term traders, limiting the rally’s momentum. Thus, sustaining the current bullish trend will be key in determining whether Toncoin can reclaim higher ground and achieve a more robust recovery. The coming sessions will be pivotal as traders closely monitor price action, volume trends, and support zones to assess the rally‘s strength in the long term. Technical Indicators Align For A Move-Up Currently, Toncoin’s capability for a rally is gaining momentum as technical indicators align, pointing to a move upwards. After failing to break below the $5 mark successfully, the cryptocurrency is now showing signs of an uptrend. Related Reading: Toncoin Stabilizes Above $5: Is Now The Time To Buy TON? Buying pressure is beginning to outweigh selling activity as indicated by the Composite Trend Oscillator’s recent shift away from oversold conditions. As the signal line and the RSI line of the indicator approach neutral territory, TON may be gearing up for a strong surge as traders regain confidence in its upside potential. Furthermore, Toncoin is attempting to move above its key support levels, signaling possible bullish momentum. The 4-hour Simple Moving Average (SMA) turning upward shows that the price is gaining traction in the short term. This shift is important, particularly because the SMA acts as a trend-following indicator, confirming that the market may be entering a phase of sustained positive movement. If Toncoin continues to hold above key support levels and the SMA remains positive, especially succeeding in testing and breaking through nearby resistance zones, it might lead to further gains. Toncoin Road To Recovery: Overcoming Resistance Zones TON is steadily making its way toward recovery, focusing on overcoming key resistance zones that have previously capped its price progress. If the cryptocurrency maintains its rally and breaks through the $6 resistance, it may trigger a more powerful rally, attracting additional traders and driving the price toward the $7.2 mark. However, should Toncoin fail to sustain its rally, it could face a retracement toward lower support levels, possibly revisiting areas like $5. Related Reading: Toncoin Price Recovery Continues — Is The Dwindling Staking TVL Ratio Bullish? This downward move is capable of dampening bullish sentiment, which might lead to a consolidation period or further downside. Therefore, as the altcoin navigates these challenging levels, its ability to break through and uphold positive momentum will be crucial in determining the next phase of its price action. Featured image from Adobe Stock, chart from Tradingview.com
Toncoin (TON) has shown signs of recovery, trading above $5.5 after experiencing price declines in recent weeks. This rebound has not only boosted TON’s market capitalization by some millions but also brought investors to ponder on Toncoin’s potential for a sustained rally. Particularly, as the TON market stabilizes so far, questions about investor sentiment and market risk are coming to the forefront. Related Reading: Toncoin Could See A 65% Surge In The Next 43 Days—Here’s Why Is Now The Time To Buy TON A CryptoQuant Quicktake Platform contributor Darkfost recently analyzed Toncoin’s market behavior, focusing on the annualized realized volatility over a one-week period. This metric as shared by the analyst has dropped below the 0.25 threshold, offering insights into the prevailing investor sentiment and perceived market risk. While low volatility is often associated with reduced risk, it may also indicate waning market interest or growing investor caution. Notably, the decline in realized volatility is a significant development, as periods of low volatility have historically been followed by market reversals. Darkfost emphasized that reduced volatility often signals diminished investor interest, which can present both opportunities and challenges for traders. On the one hand, such periods may highlight reduced market risks, offering potential entry points for long-term investors. On the other hand, they require careful analysis, as low volatility alone cannot guarantee future price movements. Darkfost suggested that monitoring these low-volatility periods closely, alongside other indicators, is essential for making informed decisions. Additional evaluation of broader trends and corroborating signals is necessary to identify whether these zones represent genuine buying opportunities. Toncoin Market Performance And Outlook In recent weeks, TON’s price has shown little movement in either a bullish or bearish direction. Despite the broader crypto market experiencing a recent downturn, TON has managed to hold steady above the $5 mark, avoiding any significant drops below this level. Related Reading: Toncoin Signals Accumulation Phase as Open Interest Hits Nine-Month Low – What’s Next? Even as the broader crypto market now begins to recover, TON has struggled to break past the $5 threshold, indicating that it may be encountering resistance at this price point. At the time of writing, TON is trading at $5.22, reflecting a modest 0.5% increase over the past day. Interestingly, despite this encountered resistance above $5, TON appears to still be seeing significant movement behind the scenes. Just yesterday, the network registered over 100% in large transaction volume reaching nearly $8.5 billion Toncoin $TON surged 104% in large transaction volume over the past 24 hours, reaching $8.13 billion, driven by significant whale activity and $127 million in market-wide shorts liquidations. Currently trading at $5.39, TON’s spike aligns with a broader crypto market recovery… pic.twitter.com/7uLTLhz3h6 — ᵇᵉᵃᵗ (@beatbroker) January 15, 2025 Featured image created with DALL-E, Chart from TradingView
The Open Network (TON) Foundation, closely associated with Telegram, is setting its sights on an ambitious expansion in the United States. This strategic move comes amid expectations of a more favorable regulatory environment under the incoming administration led by Donald Trump. TON Foundation Appoints Manny Stotz As New President The foundation announced the appointment of […]
Bitcoin’s bounce above $94,000 suggests that the bulls remain buyers on dips, increasing the possibility of a retest of $100,000.
The cryptocurrency market has shown heightened activity in early 2025, with Toncoin (TON) emerging as one of the spotlighted assets following an analysis shared by a CryptoQuant analyst, Burak Kesmeci. According to recent data, the 90-day percent return metric for TON indicates the early stages of an uptrend, raising expectations of a sustained rally in the coming weeks. This trend has been observed historically, with similar metrics signaling substantial gains in past bull cycles. Related Reading: Toncoin Price Recovery Continues — Is The Dwindling Staking TVL Ratio Bullish? Historical Data Suggests Strong Price Potential Kesmeci disclosed that historical analysis reveals that TON has previously demonstrated notable performance following reversals in the 90-day percent return metric. For example, in August 2023, TON rose from $1.72, delivering a 65% gain over 70 days. Similarly, in February 2024, the asset surged by 258% in just 43 days after a similar metric reversal. The most recent example, recorded in November 2024, saw TON climb 32% within 11 days. These instances suggest that when the 90-day percent return metric crosses into positive territory, it often serves as a precursor to significant upward price movement. The current trend, which began just seven days ago, has sparked optimism among investors who are considering short-term accumulation strategies. Kesmeci reveals that if historical trends persist, TON could experience a median gain of 65% over the next 43 days. The analyst wrote: Currently, we observe that the “90-day percent return” metric for TON has entered a bull trend for the fourth time. It has been only 7 days since this reversal. Based on previous data: Expected duration: 43 days (median value) Potential percentage return: 65% (median value) These insights suggest that TON is likely to continue its upward trend in the short term. However, it is worth noting that market conditions and external factors, such as overall sentiment in the cryptocurrency sector, could influence the trajectory of this trend. Toncoin Market Performance Since the year began, Toncoin has been unable to make a significant movement towards the upside. Instead, the altcoin has continued to face consistent decline. Over the past two weeks, TON has now plunged by a double-digit performance of nearly 12%. This has brought the asset’s price to currently trade below $6 as of today marking a 7.5% decline in the past 24 hours. Interestingly, despite the consistent decline from TON in recent weeks, the asset’s daily trading volume has seen an opposite trend. Related Reading: Toncoin Consolidates: Could A Breakout Push TON Higher? Particularly, in the past 7 days, TON’s daily trading volume has moved from $200 million last Wednesday to now sitting at roughly 344 million as of today. Given the current trend in TON’s price, it is worth noting that this increase in TON’s trading volume might be from the continuous selling pressure in the TON market. Featured image created with DALL-E, Chart from TradingView
Bitcoin price looks on track to reclaim the $100,000 level. Are altcoins set to follow?
Bitcoin is holding above $90,000, signaling the possibility of a move back toward $100,000 in the next few days.
The Toncoin price recovery has been one of the few bright spots in the cryptocurrency market over the past week. The climate of the broad market has been sluggish in the festive period, with the two largest assets Bitcoin and Ethereum struggling to make a mark. With the Toncoin price now approaching the $6 mark, it appears that the altcoin is now fully in its recovery phase. According to a pseudonymous analyst, a recent on-chain phenomenon suggests that the price rally for TON is only just beginning. What Happened Last Time TON Staking TVL Ratio Was At A Low Level? In a Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Joaowedson discussed the dynamics between the staking TVL ratio and Toncoin price. According to the analyst, there is a correlation between the amount locked on TON and price movements. Related Reading: Historical Data Shows What To Expect From Ethereum Price In Q1 2025 – It’s Very Bullish The Quicktake analyst highlighted a trend whereby investors withdraw their assets in order to explore trading opportunities whenever there is a price increase. This phenomenon has also been observed in the TON ecosystem, with the TVL metric dropping in recent weeks. Joaowedson noted that the staking TVL ratio has reached new lows, coinciding with what appears to be a bottom for the price of Toncoin. Ultimately, this suggests that the odds of an increase in the Toncoin price are higher. While the idea of reduced interest in staking leading to price growth seems counterintuitive, it can be justified by the increase in liquidity available for trading. The Quicktake analyst explained: When investors withdraw funds from staking, they often transfer them to exchanges for quick trades. This movement increases demand for the token, driving prices higher. From a historical perspective, a similar situation occurred in March 2024 when the staking TVL ratio shrunk significantly as the TON price soared to new highs. “Interestingly, as interest in staking diminished, funds started migrating to centralized exchanges (CEX) and decentralized exchanges (DEX) like Ston.FI and Dedust, boosting the TVL in those categories,” Joaowedson added. With investors more willing to make their assets available for trading, there is a higher likelihood of price increases due to growing demand. If this holds true, the Toncoin price could return to around its recent highs. Toncoin Price At A Glance As of this writing, the Toncoin price stands at around $5.78, reflecting a 0.5% decline in the past 24 hours. According to data from CoinGecko, the value of TON is up by more than 6% on the weekly timeframe. Related Reading: Bitcoin Price Enters Correction Phase On Its Path To Explode Above $110,000 Featured image from Unsplash, chart from TradingView
Bitcoin’s repeated failure to cross above $100,000 increases the risk of a drop under $90,000.
Bitcoin’s recovery shows solid buying at lower levels, increasing the possibility of a break above $100,000 in the short term.
Toncoin (TON) appears to have now entered a notable phase in its market cycle, presenting potential opportunities for investors. A recent analysis by CryptoQuant analyst Joao Wedson highlights that TON has moved into a favorable risk zone for accumulation, as indicated by the Normalized Risk Metric (NMR). This metric evaluates an asset’s price risk relative to historical data, providing a clearer picture of whether the current price levels are suitable for investment or if caution is warranted. Related Reading: Toncoin Consolidates: Could A Breakout Push TON Higher? Toncoin Current Market Outlook The NMR uses moving averages such as the 50-day and 374-day simple moving averages (SMA) along with logarithmic differences in price data to determine risk exposure. A normalized score ranging between 0 and 1 indicates the level of risk, with values closer to zero suggesting a lower chance of price decline. According to Wedson, TON’s current placement in the green zone signals reduced risk, making it an appealing opportunity for investors seeking long-term exposure to the asset. The analysis further suggests that while the medium and long-term risk profiles appear favorable, there remains a possibility for TON’s price to revisit historically significant support zones, often referred to as the “blue zone” on price heatmaps. Historically, these levels have served as price floors and accumulation points for investors expecting future price appreciation. Open Interest Decline and Market Volatility Trends Another CryptoQuant analyst, Maartunn, has added further context to Toncoin’s current market stance. According to his observations, TON’s Open Interest (OI) in the futures market has decreased to $141 million, marking the lowest level observed in the past nine months. Open Interest refers to the total value of outstanding futures contracts and is a key indicator of market sentiment and participation. A decline in Open Interest generally signals reduced market activity and lower volatility. While this trend is specific to TON, it reflects a broader pattern across the cryptocurrency market as the year comes to a close. Historically, periods of low Open Interest are often followed by significant price movements, either upward or downward, once liquidity returns to the market. Related Reading: Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? Lower Open Interest combined with Toncoin’s favorable risk metrics may suggest a period of price stability and reduced volatility. Risk-Adjusted Returns and Drawdowns: A Look at Unrealized Profits in TON “The Open Interest and Funding Rates chart complements this narrative by highlighting steady open interest levels, which demonstrate sustained participation in the TON ecosystem.” – By @ShivenMoodley More… pic.twitter.com/DIpNabROij — CryptoQuant.com (@cryptoquant_com) December 24, 2024 Featured image created with DALL-E, Chart from TradingView
Prominent altcoin Toncoin (TON) was not left out of the widespread crypto decline in the last week. According to data from CoinMarketCap, the price of Toncoin dipped by 14.71% over the past seven days falling from a consolidation range between $6.2-$6.5. However, this market downturn does not deter market experts’ bullishness on TON especially with the altseason yet to go into full effect. Related Reading: Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? Toncoin To Gain At Least 280% In Altseason, Analyst Says In a recent X post, popular crypto analyst Burak Kesmeci revealed multiple price targets for Toncoin in the current altcoin bull run/altseason, a period where altcoins generally outperform Bitcoin in price appreciation indicated by a decline in Bitcoin’s market dominance. Firstly, the analyst notes that Toncoin’s 365-day moving average currently at $5.14 has historically represented a region where price activity significantly slows down. Notably, Toncoin has only experienced a prolonged price dip below this level in a bear market. However, with the crypto market in a bull cycle, Kesmeci postulates that a one-year SMA could represent the potential local bottom for TON. Therefore, using this price point with multiple levels of standard deviation (σ), the analyst predicts possible price targets of Toncoin that are statistically compared to historical data. From the chart below, Toncoin is expected to hit an initial price of $8.74 as the altseason takes off based on the price level revealed by the one-year SMA + 2σ. This indicates a potential 60.6% gain on the altcoin’s current market price. Thereafter, a higher price band of one-year SMA + 6σ indicates a price target of $15.93. The final price goal for Toncoin by Burak Kesmeci is based on the one-year SMA + 8σ and set at $19.53. Going by this prediction, the crypto analyst states that Toncoin could have gained by 280% in the first phase of the altseason. However, investors should note that price targets are likely to change with moving prices as the projection is based on the simple moving average. Related Reading: Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff What Now For Toncoin? Following the crypto market decline this week, Toncoin found a local price bottom at $4.71 and is currently undergoing a modest price recovery as it hovers around the $5.40 price zone. In attaining any of Kesmeci’s price predictions, the altcoin will need to break past a minor resistance at the $6.5 price region and also overcome a major price opposition at $7.0. In other developments, Toncoin’s daily trading volume has grown by 3.61% attaining a value of $619.19 million. With a market cap of $13.91 billion, the digital asset remains the ninth-largest cryptocurrency in the market. Featured image from Yellow Card Academy, chart from Tradingvew
A solid recovery in Bitcoin price is a hint that bulls have not given up on BTC and altcoins as they continue to buy dips below key support levels.
Toncoin has entered a period of consolidation, with its price moving within a narrow range of $6.2 and $6.5 as the market weighs its next move. As the cryptocurrency stabilizes, will Toncoin break to the upside, setting the stage for a fresh rally, or will it falter and dip lower, testing crucial support levels? This consolidation phase is more than just a pause in price action; it represents a pivotal moment that could determine TON’s next major move. A breakout to the upside could signal renewed positive sentiment, attracting more buyers and fueling a strong upward trend. On the other hand, a breakdown could shift the market sentiment to bearish, with the price heading lower to retest key support zones. In this article, we will explore both scenarios in detail, analyzing the key levels to watch and what a breakout in either direction could mean for Toncoin’s future trajectory. Toncoin Current Range: Understanding The Consolidation Phase As Toncoin consolidates, current price action suggests the potential for a breakout to the upside. The price has shown signs of bullish momentum within the consolidation range, with gradual upward movements indicating increasing buying interest. Related Reading: Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? Furthermore, this upward pressure within the range is often a precursor to a breakout, as market participants accumulate positions, anticipating a rise above resistance levels. If this momentum continues to build, it could signal that Toncoin is preparing for a strong move on the upside once the price breaks free from its current consolidation zone. The Relative Strength Index (RSI) is currently trending above the 50% threshold, indicating that Toncoin is in positive territory and buying pressure is starting to outpace selling activity, which is often a sign of bullish momentum. When the RSI remains above the 50% mark, it suggests that the asset is more likely to experience upward movement as it reflects an increasing number of buyers compared to sellers. Typically, this level is often seen as a key indicator for possible future gains, showing that market sentiment is leaning toward optimism. As the RSI trends higher, the likelihood of a breakout to the upside increases, reinforcing the optimistic outlook for Toncoin. What Happens After A Breakout? Possible Price Targets And Next Steps After a breakout, TON’s direction will hinge on whether the move is upward or downward. If the price breaks higher, it could target the $7.2 resistance level, which could act as an initial hurdle. Breaking above this level successfully would indicate strong bullish momentum, potentially triggering upward movement. In this scenario, the next key resistance level to watch would be $8.3. A move past this point could set Toncoin on a path for additional gains, as it would signal that the bulls are in control and the price may continue to climb toward new highs. Related Reading: Toncoin Price Explodes With 17% Rally — Can TON Sustain The Momentum? On the other hand, if the breakout is to the downside, the price will likely test the $6 support level. A breach of this level could lead to more declines, with subsequent support zones becoming crucial. Conclusively, increased volatility is common, so traders should watch for confirmation signals after a breakout, such as volume and momentum indicators, to gauge the sustainability of the move. The broader market sentiment also plays a significant role in determining the direction and strength of the breakout. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin’s rally above $100,000 has improved sentiment, triggering a strong recovery in several altcoins.
Bitcoin price trades above $100,000 again, proving that every minor dip is being purchased.
Bitcoin may consolidate in the near term while select altcoins continue to outperform.
Toncoin price performance has been one of the brightest spots in the cryptocurrency market in a week that has been rather slow for the large-cap assets. While Bitcoin has struggled to achieve its dream of a $100,000 valuation, tokens like Toncoin (TON), Stellar (XLM), and XRP have continued to soar with double-digit returns. Specifically, TON seems to be finally coming to life after a somewhat sluggish start to the month of November. However, the question that would probably be lingering on several investors’ minds is — how long can the Toncoin price sustain this bullish momentum? Is TON Price Going To Continue Upward Trend? In a Quicktake post on CryptoQuant, an analyst with the pseudonym Darkfost shared an exciting analysis for the price of Toncoin over the next few weeks. According to the pundit, on-chain signals are currently bullish for the altcoin’s price. Related Reading: XRP Price Prediction: Analyst Says History Is Repeating Itself, Here’s How The relevant metric here is the “90-day percent return,” which measures the percentage change in the price of an asset over the last 90 days. It typically tracks the performance of the cryptocurrency within that period while providing insight into its short-term trend and momentum. According to data from CryptoQuant, the TON 90-day percent return recently turned positive following the upward movement of the Toncoin price. From a historical standpoint, when this metric flips to positive, the price action that follows is usually with significant momentum. Ultimately, this shift in the 90-day percent return suggests that investors’ confidence is increasing and are more willing to hold their assets. This is usually in anticipation of higher prices, as investors are expecting the bullish trend to continue. According to the Quicktake analyst, another on-chain signal that supports the bullish prognosis is the percentage change in open interest. Data from CryptoQuant shows that the on-chain metric has also flipped to positive, suggesting a continuation of the current bullish trend. Toncoin Price At A Glance As of this writing, the price of Toncoin stands at around $6.526, reflecting no significant change in the past day. The altcoin is still up by almost 18% on the weekly timeframe, according to CoinGecko data. This recent bullish run pushed the price of TON back above $6.5 for the first time since late August. Following the token’s fall to around $4.5 in September, the price has been moving mostly sideways before climbing the latest high this month. Related Reading: Dogecoin TD Sell Signal Goes Off, But Here’s Why Parabolic Bull Run Can Still Continue Featured image from iStock, chart from TradingView
Bitcoin price struggles to overtake $100,000, but the predictable price action is creating a path forward for many altcoins.
W-Coin will start a daily burn of your tokens if you don’t log in for three days.
Bitcoin’s strong recovery shows aggressive buying on every minor dip, but the bulls may struggle to overcome the $100,000 resistance.
Toncoin (TON) has surged past the $6 mark, rekindling hopes for a sustained bullish rally. After facing a challenging period of bearish pressure, this recovery has sparked curiosity among investors and traders alike. The key question is whether the bulls have what it takes to maintain this momentum and push TON higher. As Toncoin navigates a pivotal moment, this article aims to explore its breakout above the $6 level, delving into the forces behind the move and evaluating its potential to sustain its strength. By analyzing key technical indicators and market dynamics, we will provide insights into whether TON’s rally could evolve into a long-term bullish trend. Indicators To Consider If Toncoin Can Maintain Its Uptrend TON is demonstrating renewed positive strength, rebounding above the $6 mark and signaling a notable shift in market sentiment. Increased buying pressure has driven further price growth, positioning TON on a stronger footing. Significantly, the token has risen above the 100-day Simple Moving Average (SMA) on the 4-hour chart, a key indicator that reinforces the prevailing bullish trend. An examination of the 4-hour Relative Strength Index (RSI) shows that the indicator has climbed to 60% after declining to 53%, signaling a resurgence in buying pressure and reflecting renewed upbeat momentum in the market. A break above the 60% level would indicate strong overbought conditions, suggesting robust demand and the possibility of more price gains. Related Reading: Toncoin Sharpe Ratio Rising, Is TON Readying For $8? Also, the daily chart reveals strong upward movement for Toncoin, marked by a strong rejection wick as it recovers above the $6 level. Trading above the crucial 100-day SMA reinforces the positive trend, indicating sustained strength. As TON continues to climb, it bolsters market confidence, setting the stage for growth with the $7.2 resistance level as the next key target to watch, which could determine whether the bullish move extends further. The daily chart’s RSI at 80% implies robust upside momentum since buyers are firmly in control and pushing Toncoin’s price higher. This surge follows a brief pullback to 65%, which acted as a cooling-off phase before renewed buying pressure kicked in. With the RSI positioned above the critical 50% level, TON’s rally may extend, triggering continued optimism in the market. Potential Challenges Ahead For TON’s Rally Although TON’s recent rally above $6 shows strong potential, several challenges could disrupt its positive movement. Toncoin is nearing overbought conditions, as reflected by its RSI, which may lead to resistance or a pullback. If this occurs, the asset could decline below $6, possibly heading toward the $4.6 support level and further downward. Related Reading: Toncoin (TON) Climbs 20% – Here’s What’s Pushing The Price Up However, if TON maintains its bullish momentum, it could reach the $7.2 resistance level. A breakout above this mark could pave the way for additional gains, potentially driving the price toward its all-time high of $8.3. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin trades just a few hundred dollars from $100,000. What will altcoins do if the price milestone is hit?
Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
Bitcoin is witnessing a shallow pullback, but bulls still anticipate a rally toward $100,000 in the short-term.
Bitcoin is showing no signs of stopping its advance toward $100,000, and several altcoins look poised to follow.