On June 5, the price of Toncoin came slightly above its all-time high and made a new one of $7.87.
Following a brief consolidation around $6.25, Toncoin experienced a 25.20% increase over the weekend.
An ascending triangle pattern has formed on Toncoin's price chart, suggesting a bullish trend continuation.
The upper trendline of the ascending triangle is currently acting as resistance at $8.00, indicating a potential breakout point.
Toncoin's price action from mid-April to early June formed a Cup and Handle pattern, reinforcing bullish sentiment.
Analysts anticipate a significant upward move if Toncoin breaks convincingly above the upper trendline of the ascending triangle, with a speculated price target of $11.80.
According to Coingabbar Prediction, Conversely, if bears dominate, Toncoin may test the lower support level at $6.20 in the near future.
KEY LEVELS :
RESISTANCE LEVEL : $8.00-$10.00
SUPPORT LEVEL : $6.20-$4.60
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
#Binance55thProject(IO) #StartInvestingInCrypto #altcoins #Toncoin #buythedip @CZ @Coingabbar Analysis @Binance Research @Binance Square Official $toncoin