As the Bitcoin price gained momentum, it began trading around $65,000. This development has led to a revival in the altcoin market. However, the Toncoin ecosystem is showing increasing price volatility along with the constantly falling TON price. So, will Toncoin be able to maintain its place among the top 10 cryptocurrencies, or will it lose value?
Toncoin Price Retests Major Support Level$TON
Toncoin continues its downtrend, losing 1.86% in the last 24 hours and 7.77% in the last month. It still maintains its 10th position with a market cap of $13.166 billion. The MACD indicator shows a continuous decline in the red histogram, signaling a possible Golden cross. However, the fact that the SMA supports the TON price chart on the 1-day time frame indicates that bullish sentiment is increasing for this altcoin.
If the market bulls step in, the altcoin is likely to regain momentum. In this context, it is likely to test the $6,415 resistance level this month. However, it is also possible that the price could pull back to $4 under the influence of the bears.
Notcoin is currently the best performing cryptocurrency in the Toncoin ecosystem. It has gained 6.91% in the last 24 hours with a trading volume of $209.76 million. It has gained 9.28% in the last week and 11.13% in the last 30 days. The 50-day EMA is giving a bullish signal, indicating that buying pressure is increasing in the market. Also, the RSI indicator is trading above the midpoint, showing a positive outlook.
If Notcoin rises above the $0.00925 resistance level, there might be a chance to test the upper resistance level at $0.0140 in the coming weeks. Otherwise, a pullback could result in a drop to $0.00455.