Toncoin (TON), linked to Telegram’s blockchain platform, is poised for a significant price surge in June, potentially rising by 50%. Despite market ups and downs, TON’s bullish ascending triangle pattern hints at an imminent breakout.

Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ

Currently priced at $7.44, Toncoin has seen a 6.69% rise in the last 24 hours. It has also reclaimed its position as the 9th largest cryptocurrency by market capitalization, surpassing Cardano (ADA). This surge comes after an impressive 228% increase year-to-date, bringing its market cap to $18.26 billion.

 

Toncoin (TON) Technical Analysis and Price Outlook

Toncoin (TON) is currently showing strong bullish signals, highlighted by the formation of an ascending triangle pattern on its price chart. This pattern typically precedes substantial price rallies, indicating potential further gains in June. The upper trendline of the triangle, currently acting as resistance around $9.00, is a critical level to watch for a breakout.

TON/USD 1-day price chart. Source: TradingView



Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ



On TradingView, Toncoin displays robust buy signals, supported by Exponential Moving Averages (EMAs) at 50, 200, and 20 periods with values of 6.194, 4.347, and 6.625, respectively. This bullish EMA alignment, where shorter-term averages are above longer-term ones, signals an upward trend momentum.



Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ



Additionally, indicators such as the Moving Average Convergence Divergence (MACD) and momentum indicators confirm the bullish outlook. The MACD shows positive momentum, indicating buyer dominance in the market.



Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ



Investors should exercise caution, however, as the Relative Strength Index (RSI) sits at 68, approaching the overbought territory (above 70). An RSI above 70 suggests potential overvaluation and could precede a short-term price correction.

A convincing breakout above the upper trendline of the ascending triangle could propel Toncoin towards a target price of $11.80, representing a significant upside potential of more than 50% from current levels. Analysts are closely monitoring this pattern for further price movements.

Toncoin (TON) On-chain Analysis and Market Sentiment

Toncoin (TON) is currently bolstered by strong on-chain data, signaling a bullish outlook for the cryptocurrency. According to a tweet from @ali_charts, large transactions exceeding $100,000 in Toncoin have surged by 237.5% in the past 24 hours. This spike in whale activity, matching a 7-day high with 27 such transactions, often precedes notable price movements in the market.



Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ



Source: Ali charts

The increase in large transactions suggests active repositioning by institutional investors and high-net-worth individuals, indicating shifting sentiments or anticipation of significant developments within the Toncoin ecosystem.

Additionally, IntoTheBlock reports robust blockchain activity for Toncoin, with 100% of addresses holding TON tokens currently in profit. This rapid shift from cautious sentiment to greed among investors underscores growing confidence in Toncoin’s long-term prospects and potential for further price appreciation.



Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ



TON addresses in profits. Source: IntoTheBlock

In conclusion, these on-chain metrics, coupled with widespread profitability among Toncoin holders, strongly indicate a bullish trend for TON. As market participants closely monitor these developments, Toncoin appears poised for significant price movements and ongoing ecosystem developments.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.






Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ




#TON #Toncoin #Bitcoin #Ethereum #Airdrop $TON $BTC $ETH