- Toncoin price is currently trading at $1.39 with an advance of +2.91% in the last 24 hours with a popularity of 284,852x ranking 222nd as per CoinMarketCap.
- Toncoin receives new investments, revealed by Telegram founder helps coin to surge 5%.
- TON shows a spike in the number of Twitter followers resulting in number of 197,830 resulting in the rise of the number of telegram users to 379,164.
Toncoin price is trading in a range creating a Darvas box and can move towards any direction on breakout also the volume for the same has shown a spike of +168.06% in the last 24 hours with a spike of +10.92% in Open Interest.
The Open Network, formerly known as Telegram Open Network, is a layer-1 blockchain that started as a project by the Telegram messaging app, but was later handed over to the TON Foundation.
Toncoin Price Technical Analysis
Market Structure:
Toncoin price has been consecutively declining from the higher levels making lower lows and in very recent times it has stopped to continue the structure further by taking a pause and creating a zone by moving rangebound in a value area and can further continue after the breakout or breakdown of this zone which is also called Darvas Box.
Toncoin Indicator Analysis
Source: TONUSD.BITFINEX.1D by TradingView
EMA:
The TON has been trading in a downtrend for a very long time resulting in a bearish crossover of the 20-day and the 50-day Exponential moving average which further led to an indication of a downtrend and the market is still following the same crossover pattern.
RSI:
The RSI for the Ton looks weak as it has been unable to breach the 50 level and is still trading below the same. The RSI bounced back from the oversold zones but by reaching the level of 50 it lost its momentum which indicates weakness in the market.
Conclusion
Looking at the current charts we can say that there is uncertainty in the TON price as it is currently trading inside a Darvas Box making bullish candlesticks but the EMA’s and the RSI are giving bearish signals and showing signs of weakness in the charts. Hence, the Toncoin price seems to be in no trading zone and we must wait for technical indicators confirmation to be formed on the charts of Toncoin.
Technical Levels
- Support Level – The Support level for the Toncoin crypto are 1.32607204 and 1.2407328.
- Resistance Level – The Resistance level for the Toncoin crypto are 1.49486553 and 1.69963140.
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
