Bitcoin's rise above $60,000 on Friday caused double-digit movements in some coin prices. The drop earlier in the week highlighted the vulnerability and uncertainties of crypto assets that investors struggle to ensure long-term value creation.
After Bitcoin's merciless slaughter turned green, some tokens that could be considered for inclusion in the coin portfolio are Terra Classic (LUNC) and Toncoin (TON).
Toncoin (TON)
The token associated with Telegram, Toncoin, slightly exceeded the $5 mark with double-digit gains, exploding. However, TON's potential promised to investors has earned it a place on this list.
Toncoin has rapidly emerged as a significant player in the cryptocurrency market, reaching a notable market value of $18.87 billion and securing ninth place. The 24-hour trading volume increased by 31% to $261 million, indicating strong investor participation and confidence in the potential. This increase reflects the market's optimism about Toncoin's future, a positive sign.
Toncoin's value rose from $4.5 to $5.4 last week, showing a continuous upward trend. This increase of over 2% positions it as one of today's best-performing coins, highlighting a strong recovery and sustained investor confidence. TON coin is experiencing a significant rise, indicating that it may soon enter a bull market.
If the current upward trend continues, TON coin could surpass the $6 resistance level. With continued momentum, its value could approach $10 and potentially reach $20.
Terra Classic (LUNC)
Terra Classic coin felt the impact of the selling wave, believed by many to be exacerbated by external factors such as inflation and geopolitical tensions. The token, whose community has been working day and night to rebuild Terra Luna's image since its collapse in 2022, has taken significant steps since the last quarter of the year and reached $0.0002797 in December and then $0.00025 in March.
LUNC coin price fell below the critical $0.0001 support level last month when a candle wick extended to $0.00007115. A reflex recovery followed immediately, but momentum stalled below the $0.00012 resistance level.
For Terra Classic coin, the $0.00008 support aligns with a similar recovery zone in February, highlighting the formation of a double bottom pattern. This is interpreted as a reversal pattern that can have a significant impact on price.
In the case of LUNC coin, the upward trend gaining momentum above $0.0001 could lead to further gains – a 66% move above the black dashed line (neckline). This target is the equal measurement of the distance between the highest and lowest points as shown on the chart.
For LUNC coin now, the Relative Strength Index (RSI) is above 40 and trending towards 50 (the midline), indicating that the price increase could continue until the weekend. While 66% is a long-term prediction, short and medium-term movements can be profitable, especially for coin traders.