Toncoin network has been gaining more popularity lately. One of the most significant events in the ecosystem this year was the launch of Notcoin (NOT) on its blockchain.
Notcoin gained multiple listings on various exchanges almost immediately after it ended its presale. Some tagged it as one of the most successful token launches this year when it was introduced.
Following the launch frenzy, NOT price spiked 500% from $0.004 to $0.02 in just 1 week. However, Notcoin price has since declined by 50%.
The price of NOT has found support that has held four times in the past. If this holds again, we could see a recovery to the descending trendline, where the next major resistance is.
Notcoin will need to break above the trendline for a chance to make a major recovery. The relative strength index is at 41, which is in bearish territory. However, it shows that the price could have a lot of room to rise before a major retracement in case of a bullish move.
TON Price Is Struggling to Maintain Price Growth
Toncoin rose by more than 300% between January and early July. However, it has also started to decline, down more than 20% at the time of writing.
The price of Toncoin itself has not had much bullish action lately. After many months of higher highs and higher lows, the price started to trade sideways in May and has continued the same pattern since then.
The price formed another sideways pattern within the broader consolidation and broke down below it. A retest of that level started yesterday, and we could see the price go back to the $6.9 level.
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A break above the $6.9 level will bring the price back into the consolidation zone again. This could trigger a price rise to $8.1 (the top of the consolidation).
The next levels to watch are $6.9, $7.6, and then $8.1. If the $6.9 level holds as resistance, we could see a dip to $5.9. Such a dip could affect tokens built on the blockchain, including Notcoin’s NOT.
Collaboration With Toncoin Could Trigger Growth
Toncoin has continued to form strategic partnerships for growth. One of the latest is a partnership with Trust Wallet.
Trust Wallet & @ton_blockchain are joining forces We’re working with the #TON team to make the TON & #Telegram ecosystem even more accessible to all #TrustWallet users! Stay tuned for further updates.Explore $TON in Trust Wallet nowhttps://t.co/2J9OHmd6qS pic.twitter.com/lq6CQaByRP
— Trust Wallet (@TrustWallet) July 30, 2024
The collaboration will make the TON ecosystem more accessible to Trust Wallet users. This could increase exposure to the TON ecosystem and potentially make the coin more valuable.
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The post What’s Next for Toncoin (TON) and Notcoin (NOT) Crypto Prices as Market Sentiment and Hype Cool appeared first on CaptainAltcoin.
