Will Toncoin Price Reach $10 After The Last 20% Rise?

The price of Toncoin, an altcoin affiliated with Telegram, has seen significant growth this month amid widespread optimism in the market. Recent trends reveal that TON is making progress towards the $10 level due to increasing bullish momentum and increased trading activity. The cryptocurrency’s upward trajectory mirrors the rally in the broader crypto market and showcases notable gains across multiple digital assets.

Could Toncoin Price Surpass $10 After Recent Gains?

Toncoin price has gained significant momentum recently, breaking above $6 after months of sluggish activity. The cryptocurrency rose 15% last week and is up an impressive 20% today.

This rapid rise is attributed to Toncoin’s listing on the largest exchange in South Korea and its strategic expansion into the US market. These moves increased investors’ confidence, increased demand and caused prices to rise.

wider crypto market Rising trends were also witnessed on Saturday, creating a wave of optimism globally. While Bitcoin remains stable at $98,000, altcoins including Toncoin continue to show upward momentum.

TON Price Rises 10% Amid Upward Momentum

The latest TON price has increased significantly, rising by 20% in the past day. The cryptocurrency is currently valued at $6.40 and its price performance is showing significant momentum. TONcoin reached an intraday high of $6.58, signaling a strong uptrend.

Despite its recent gains, TON remains 20.91% below the all-time high of $8.24 recorded on June 15, 2024. However, the token has gained a staggering 1567.46% since its all-time low of $0.3906 on September 20, 2021. .

layer 1 It continues its upward momentum as market conditions push prices upward despite resistance at the $7 level. The cryptocurrency recently faced rejection at this price level, underlining the difficulties in sustaining the uptrend.

Toncoin could overcome this hurdle if buyers increase the pressure and extend its rise. Potential targets include $9 and $10, which represent an almost 50% upside from current levels. The Relative Strength Index (RSI), currently at 71, indicates that Toncoin is in the overbought zone.

According to Coinglass, Toncoin’s derivatives market has witnessed a significant increase in activity. Trading volume has increased, indicating increased investor interest in cryptocurrency. Additionally, open positions for Toncoin also increased. This increase reflects an increasing number of active positions in the derivatives market and signals strong participation from investors.

Toncoin’s recent rally reveals strong market momentum supported by strategic expansions and bullish trends. While $7 resistance poses challenges, increased investor interest and trading activity point to further growth potential; $10 remains an achievable target for TON enthusiasts.

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Coingape Staff

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Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.