TONCOIN PRICE ANALYSIS & PREDICTION (April 11) – TON Registers 50% Weekly Gains Following a Breakout, Targets $8

2024-4-12 23:35

Toncoin TON has posted an insane gain in the past week after bouncing off a dynamic support trendline. The price is strong and looks extremely bullish following the recent weekly breakout of structure.

March saw TON through a higher volatile period since the price started to pick up in mid-2023. That came after initiating a surge above $2 in February, followed by a successful break out of structure.

It later cooled off buying in the middle of the month and remained calm due to a short retracement to the ascending trendline, which has been serving as dynamic support for weeks. It bounced back and broke higher this Monday.

Following the weekly breakout, things might be more interesting in the next couple of days as the price surges towards $8. Technically, the market appears highly bullish and reaches an extremely overbought area on a daily timeframe.

Any rejection under the mentioned price level could trigger another retracement to the trendline before bouncing back. Failure to bounce could result in a breakdown, causing a deep correction in the market.

Increasing by more than 5x in the last six months of trading, it appeared to just be starting a bullish rally on the macro level. Bigger moves should be expected shortly as it has no major resistance level to keep in mind on the way up.

TON’s Key Level to Watch Source: Tradingview

As the price surges towards the $8 level, the next target level to watch for buying would be $9. The $10 level is a key psychological area to consider as resistance.

For now, the closest level for a pullback is located at $7.11. Below it lies the $6.3 level, where the ascending trendline is drawn. A break below this line could bring a major retest at the weekly break level of $5.7.

Key Resistance Levels: $8, $9, $10

Key Support Levels: $7.11, $6.3, $5.7

Spot Price: $7.6 Trend: Bullish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: stlegat/123RF / Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

weekly following breakout toncoin ton price bouncing

weekly following → Результатов: 126


Bitcoin’s Latest Rejection Coincided With These Whales’ Cost Basis: Glassnode

Data from Glassnode shows that Bitcoin’s latest rejection around the $23,800 level coincided with the cost basis of a particular whale group. Whales Who Bought Following December 2018 Have Their Cost Basis At $23,800 According to the latest weekly report from Glassnode, all three whale groups being considered here went underwater for a while after […]

2023-3-7 20:20


Bitcoin Hashrate Breakout Leads To Largest Difficulty Adjustment In A Year, But Why?

Data shows the recent surge in the Bitcoin hashrate has now resulted in the largest difficulty adjustment to the network in over a year. Bitcoin Mining Difficulty Spikes Up Following ATH In Hashrate According to the latest weekly report from Arcane Research, the BTC block production rate reached a value of almost 7 recently after […]

2022-10-13 22:00