spot_img
spot_img
spot_img
spot_img
ThecoinrepublicCryptocurrencyToncoin Price Analysis: Will TON Price Break...
google-news-img

Trending

Hamster

Hamster

notco

Notcoin

mogutou

Mogutou

Premium Partners

immerion
spot_img

Toncoin Price Analysis: Will TON Price Break The $8 Mark?

spot_img

Toncoin is making a buzz in the market with its top-class performance and bullish on-chain activities. The TON crypto has displayed bullish waves for the past sessions. Moreover, the cryptocurrency is sustaining gains above the key exponential moving averages and is persistent in stretching the gains above the upper threshold.

The on-chain Metrics of Toncoin are on the Rise

The on-chain metrics of TON crypto are growing showcasing bullish. According to Santiment data, the total number of holders has been increasing for a prolonged time showcasing bullishness.

From March 10, the total number of holders took a spike, and it has been hovering in the upper region and showing tremendous growth since then. At the time of writing, it stands at 19.2K.

Moreover, the total value locked of the TON is also on the incline. On March 06, 2024, the TVL activity metric started surging. At the time of writing it stands at $489.32 Million.

Meanwhile, the increasing TVL is a bullish signal and is typically a positive sign for TON cryptocurrency

TON active addresses have also showcased a surge in recent times. According to the Santiment data, the number of active addresses in a 24-hour and 7-day timeframe keeps inclining, suggesting bullishness. 

The increase in TON active addresses is a bearish indication that signals an incline in the on-chain demand for the cryptocurrency.

Will the Toncoin Price Break the $8 Level?

TON is trading in the bullish zone, heading upwards by making a higher high structure. After a mild weakness, the coin bounced back by taking support on the 20 EMA level.

T

When writing, the TON was trading at $7.273 level with an intraday growth of 4.74%. Its market cap value at $17,671,174,008, and the last 24-hour trading volume was $264,563,565, with a 1.12% decline. 

Moreover, TON showed excellent growth that increased by 4.23% last month, 68.07% in the last 3 months, and more than 229% in the last 6 months, showcasing bullishness in the crypto price.

If the TON price exceeds the $8 level, it could start a new bullish rally. Moreover, the main resistance for the crypto is $7.697 and $8.000. The main support levels for this are $6.889 and $6.428.

Decoding the Indicators of the TON Price 

TON is trading above the key exponential moving averages, showcasing bullishness on the daily technical timeframe. The RSI curve is at 58.97, and the 14 SMA curve is at 58.75, both close to the overbought zone demonstrating bullishness.

According to the TradingView technical summary for the daily time frame, out of 26 indicators, only 1 is giving a sell signal, 9 are on the neutral side, and 16 are signaling a buy indication. Overall, the weightage is on the buy side, showcasing bullishness.

Summary 

TON price is trading in the bullish momentum above the key exponential moving averages showcasing bullishness. Moreover, indicators like MACD, and RSI suggest bullishness in the crypto price. Moreover, the growing on-chain metrics also showcase bullishness.

Disclaimer

The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

Our Newsletter

Subscribe to our newsletter to get the latest news and promotions.

Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
spot_img
spot_img

Related News

Worldcoin
Kelvin Munene

Worldcoin Token Climbs Over 22% After Lockup Extension to 5 Years

Crypto
Kelvin Munene
Hong Kong Crypto Exchange
Maxwell Mutuma

Hong Kong Identifies 7 Crypto Exchanges as Unlicensed

Binance CEO The Coin Republic
Kelvin Munene
Gary Gensler US SEC
Maxwell Mutuma

Can Gary Gensler Be Fired On This Congressman’s Request?

Maxwell Mutuma
spot_img