Toncoin Price Analysis: TON-Top Gainer of This Week, More Value Accumulation Likely 

• During the price recovery, the price of Toncoin moves above the short-term bullish barrier.
• The daily RSI indicator remains above the halfway point after a prolonged period.
• Amid the uptrend, buyers are happy to see gains of around 41% this week.

Toncoin price is currently outperforming its recent lows. Buyers are impressed with TON Crypto because of its positive price action and prominent Bullish candlestick in the chart. The crypto market is also slowly winding up, which can be seen in the global crypto market cap. It has been rising slowly and reported a 4.82% overnight gain of $975.96 billion.

Buyers feel confident due to the positive price action as well as the headliner – bitcoin bounces back above the key round level of $20K. This pulls an influx of money into the market, thus making the remaining altcoins traded higher. Meanwhile, Toncoin price is trading at $1.72 mark at press time with a 0.85% intraday gain against the USDT pair.

Source: TON/USDT by tradingview

On 1 October, the TON crypto bottomed out as the daily price candle drew the Dragonfly Doji candle. Later on, assets continue increasing higher in the chart, although there are some little price corrections in lower-time frames. Amid uptrend, digital assets breached the descending trendline (white) and price is well staying above this zone.

In the last 24 hours, Toncoin has maintained a positive 15.3% till now. As of now, buyers are happy to see nearly 41% gain in capitalization in this week, in fact, it reached $2.10 Billion. Trading volume is also increasing amid price recovery. Last Night, it hiked by 258% reported at $33.41 Million.

Source: TON/USDT by tradingview

Over the daily price chart, RSI indicator sustains above the halfway point after a long time. This positive sign provides the higher sustainability, as well as, MACD indicator also increasing higher towards the neutral zone.

The price sustainability above 20 and 50 day moving averages may provide a pump in Toncoin price until the $2.0 immediate bullish hurdle.

Conclusion

The Toncoin price is moving towards the next round level of $2.0 after a 40 days consolidation period. Now the market sentiments look positive and major indicators like RSI and MACD show billsiness in the TON crypto.

Technical Levels

Support level – $1.5 and $1.0

Resistance level – $2.0 and $3.0

Disclaimer

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

Source