Toncoin Price Prediction: TON Tops Gainers With 8% Pump As Analysts Say This New Meme Coin Might Be The Next Crypto To Explode
The Toncoin price soared 8% in the last 24 hours and 13% in a week to trade at $6.97 as of 02:29 a.m. EST on trading volume that skyrocketed 147% to $572 million.
The pump made TON the top gainer in the past day among major cryptos by market capitalization.
The crypto market overall tumbled 1% to a $2 trillion market capitalization.
Toncoin Price Could Continue Surging
The Toncoin price has been on a tear since August 5, as the $5 level acted as a cushion that the bulls capitalized on, according to data from GeckoTerminal .
In the last ten days, the price of Toncoin movements formed a double bottom pattern as the bulls struggled to push TON above the $7 resistance.
The Toncoin price bulls aim to capitalize on the double bottom pattern to push the price of Toncoin above the resistance zone. TON now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming an uptrend.
Moreover, the Relative Strength Index (RSI) is trading up towards the overbought region, currently at 65, which shows the asset is under intense buying pressure.
The Moving Average Convergence Divergence (MACD) has also crossed above the neutral line, confirming the current uptrend.
The green bars crossing above the zero line also show that the price of TON is currently on a positive momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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