TON Takes Tough Decisions to Shape a Controlled Future – Price Rally Coming?

• Crypto Exchange BIT introduces options with toncoin.
• TON grows stronger with Hackathon developers.
• Toncoin community to vote on Tokenomics Optimization.

The Open Network (TON) urges its community to ponder on the tokenomics of the TON network. The community identified inactive mining wallets and called for them to activate their wallets. The owners of the inactive mining wallets can opt out by activating their wallets at any time before the end of the voting.

It’s scheduled to start on Feb 21, 2023. The proposal, like any other, will require at least 75% of the validator votes in two consecutive validation rounds for execution. In addition, the TON network strengthens as the Hackathon provides developer communities with the necessary resources and guidance to work their charm.

Furthermore, Cryptocurrency Exchange BIT introduced options paired with TON. The options are live on the platform today and will be available on the liquidity network Paradigm very soon. The options are launched in collaboration with liquidity provider Darley Technologies, blockchain industry market maker, and TON-backer DWF Labs.

The chart tale

The TON price formed a pennant pattern with the current level (press-time) trying to crack open and surge. The EMA ribbon lies beneath the price movement. The falling volume and rising OBV suggests the pressure persisting in the market is positive and may rally in the coming term. The current price of $2.45 could reach for the ATH near $5.84.

The CMF sees an uptick in the positive region marking the genesis of the bullish trend. The MACD records a thread of buyers participating while the lines diverge in the positive region. The RSI slopes up to reach the ceiling reflecting buyers’ influence.

The peephole 

The smaller time frame study suggests TON faces a wobbly rise. The CMF lifts for the baseline indicate arriving bulls. The MACD records tall buyer bars in the area above the zero-histogram mark and lines to undergo a bullish divergence. The RSI enters the oversold zone indicating improved buyer interest.

Conclusion 

The TON network is taking measures that benefit in the long term. The optimized tokenomics will certainly enhance the network usability and efficiency. This might provide the network with competitive advantage and new users due to listing. The holder must watch for the breakout to witness the rally. 

Technical levels

Support levels: $1.80 and $1.20

Resistance levels: $2.90 and $3.40

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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Nancy J. Allen

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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