Cryptocurrency Toncoin Soars to Record High; Will It Climb to $10?


The price of Telegram-backed Toncoin (TON), which recently peaked at $8.15 before settling at $7.60, has been making waves in the cryptocurrency market. With technical indicators showing both bearish and bullish indications, investors are on the edge of their seats, trying to figure out whether this is just a temporary fad or the start of a big surge.

Cup and Handle Indicators At Takeoff, However, TDS Cautions About Bouncy Riding

In terms of TON's short-term prospects, analysts can't agree. In a "sell signal" on the TD Sequential indicator, a crypto specialist pours cold water on the current excitement. There may be a price correction of one to four trading sessions as a result of this.

The Fibonacci retracement levels may serve as safety nets for those who are hoping for a decline. These levels provide TON with a cushion for the fall, and they are located at $7.44, $7.29, and maybe even $7.18.

Another crypto expert, Clay, has seen a bullish "Cup and Handle" pattern developing in the market. Following a consolidation period, this pattern—which has traditionally been supportive to bulls—suggests that the upswing will continue.

The analyst adds weight to his optimistic argument by mentioning that TON has just broken over a significant resistance zone, which is thought to serve as a platform for more advances.

In addition to seeing patterns, Clay sets some lofty pricing goals. Clay forecasts that TON will reach a chilly $10.50, with an even loftier goal of $11.60, based on the measured move of the Cup and Handle pattern.


When looking at the one-day chart, technical indicators show the same thing. The price has tested the $7.65 level many times and is now encountering resistance there. The magnificent $8.28 could be waiting for TON when it overcomes this obstacle. With the 100-day exponential moving average (EMA) at a supportive $6.01, the bullish argument is further reinforced, providing a safety net in the event of a drop.

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