Toncoin hits new high! Is TON price on track to hit $10?
Toncoin (TON) price has managed to hit a new all-time high (ATH) of $7.78 this morning, highlighting the increase in buying pressure over selling pressure on altcoins in the cryptocurrency market.
On the positive side, Toncoin’s price trading volume surged by 148% and it is up 13.30% in the past day. Moreover, the altcoin is up 17.76% in the past week and 30.88% in the past month.
Toncoin records a bullish breakout:
After briefly hovering around the important support level of $6.325, the bulls regained momentum over the past weekend and since then, TON price has risen by 24.71%. This has led to a new high for the altcoin.
Will TON price hit $10 in June?
If the market sustains the price above the $7,250 support, the bulls will continue to gain momentum and test its resistance at $8,725. Maintaining the price at this level will set the stage for the Toncoin price to test its upper resistance level of $10 in the coming weeks.
On the contrary, if the bears overwhelm the bulls, the TON token price will lose momentum and test its support level of $7.250. Moreover, if the bears continue to overwhelm the bulls, it will plummet further and be ready to test its lower support level of $6.325 in the future.
