TON Price Surges Back With Increased Buying Pressure; Will It Sustain?

Toncoin hit the prime last month, reaching an all-time high of $8.24 on June 15. This surge came after the continuous demand among investors over the last few months. Since the beginning of the year, the TON price has made 225% in gains, flipping Dogecoin into market position despite facing a heavy drop recently to $6.4568. What is more interesting is that this drop came right after the altcoin was close to an all-time high with a peak of $8.0847, but with the crypto market crash, that went into vain. However, today is another opportunity for the altcoin as the TON price is at $7.53 after a 14% surge in the last 24 hours. It has become one of the first cryptos to attempt recovery despite the bearish trends, indicating high demand in the market. This demand is also visible in its growth this year as at the beginning, Toncoin was trading at $2.31, but with the Telegram support, things have changed for good.

On analyzing the price charts, the TON price is moving toward the resistance at 8.156015071. If the new candlestick goes past that, the uptrend might continue. However, if the price moved down to 7.396622094, it might continue to fall to 5.408682364.

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