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The Toncoin price prediction reveals that TON is moving bullishly with a gain of 1.05%, as the coin prepares for a bullish movement.
Toncoin (TON) Gains 6% Following Telegram’s Stars Withdrawal Integration
Defying the broader market consolidation, Layer-1 cryptocurrency Toncoin (TON), closely associated with Telegram, has surged by over 6.5%. As of press time, Toncoin is trading at a new all-time high of $7.65, boasting a market cap of $18.6 billion and trading volumes exceeding $354 million.
Toncoin Prediction Statistics Data:
- Toncoin price now – $7.41
- Toncoin market cap – $17.4 billion
- Toncoin circulating supply – 2.4 billion
- Toncoin total supply – 5.1 billion
- Toncoin Coinmarketcap ranking – #9
TON/USD Market
Key Levels:
Resistance levels: $10.0, $10.5, $11.0
Support levels: $5.0, $4.5, $4.0
TON/USD is seen trading in the green at the time of writing as the coin gets ready to move toward the upper boundary of the channel with a gain of 1.05%. According to the daily chart, the candle formation is currently following the upward movement. However, crossing below the 9-day and 21-day moving averages might position the market price toward the south, as the closest support level is around the $7.0 level.
Toncoin Price Prediction: Toncoin Price May Touch the $8.0 Resistance
The Toncoin price is currently hovering above the 9-day and 21-day moving averages. However, an increase toward the upper boundary of the channel could trigger intense buying to the resistance levels of $10.0, $10.5, and $11.0 respectively. On the contrary, the Toncoin price may likely hold a support level at $7.0 which could be the daily low. Therefore, if the Toncoin price drops below this support level, it may likely hit the closest support at $6.5.
Meanwhile, the critical supports could be located around $5.0, $4.5, and $4.0 if the selling volume keeps increasing. Nevertheless, the moving averages reveal that the market may gain more upwards if the 9-day MA conveniently crosses above the 21-day MA.
TON/BTC Could Head to the North
Against Bitcoin, the buyers are likely to push the Toncoin above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest level of resistance lies near the upper boundary of the channel at 1350 SAT and above if the buyers can increase the buying pressure.
Looking at the downside; the nearest level of support is 1000 SAT, if the price drops further to create a new low, lower support could be found at 750 SAT and below. Furthermore, if the 9-day MA crosses above the 21-day MA, this could be a confirmation that the market may follow the upward movement.
Meanwhile, @VikingXBT informed his 29k followers on X (formerly Twitter) that $TON is set to onboard numerous retail investors and will likely feature at least one significant meme. He expressed his excitement about $durev, noting the impressive chart. “I’m going long here,” he stated. There are also rumors of multiple airdrops for token and NFT holders, and $TON will be the first coin listed on Coinstore to tap into the rapidly expanding Asian market.
I’m of the belief that $TON is gonna onboarding so many retail and with that, also have at least one gigantic meme. $durev just does it for me! Chart looks amazing. I’m long here.
Rumors of multiple airdrops for token and nft holders, and and first $TON coin listed on… pic.twitter.com/oA46fZVPGp
— VikingXBT (@VikingXBT) June 6, 2024
Alternatives to Toncoin
Toncoin has shown resilience with an upward trend, bolstered by technical analysis. After hitting the resistance level of $7.86, TON/USD maintains its bullish momentum, with the 9-day Moving Average (MA) indicating continued positivity. As the 9th largest cryptocurrency with a market cap of $17.4 billion, Toncoin’s slightly bullish trend endures. Meanwhile, the PlayDoge presale has surged past $2.5M in just 10 days, presenting investors with a chance to join a ground-breaking revolution. PlayDoge offers a fresh take on the ‘90s virtual pet craze, allowing users to earn crypto by caring for a Doge companion.
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