{"id":549853,"date":"2023-09-02T13:30:26","date_gmt":"2023-09-02T13:30:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=549853"},"modified":"2024-06-11T14:28:57","modified_gmt":"2024-06-11T14:28:57","slug":"toncoin-ton-continues-to-ride-bullish-wave-eyes-to-reclaim-2-level","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/toncoin-ton-continues-to-ride-bullish-wave-eyes-to-reclaim-2-level\/","title":{"rendered":"Toncoin (TON) Continues To Ride Bullish Wave, Eyes To Reclaim $2 Level"},"content":{"rendered":"

Over the past 24 hours, the majority of the crypto market has been moving slowly, with the premier cryptocurrency Bitcoin falling below the $26,000 mark again. Toncoin, on the other hand, continues to defy the current market conditions, registering a significant price climb in the past day.<\/span><\/p>\n

The TON price experienced a substantial increase on the first day of September, which is consistent with its overall trend in August<\/a>.<\/span><\/p>\n

TON Soars By 11% In A Single Day<\/strong><\/h2>\n

Toncoin currently leads the altcoin market as one of the top gainers following an 11% price rise in the past 24 hours. In the same period, altcoins such as ETH and XRP appear to have succumbed to general market sentiment, suffering a 1% and 2% price dip, respectively.<\/span><\/p>\n

Interestingly, TON’s latest price spike only underscores its impressive performance in the past few weeks. According to <\/span>data from CoinGecko<\/span><\/a>, the value of the cryptocurrency has swelled by more than 35% in the last seven days.<\/span><\/p>\n

Related Reading: Toncoin (TON) Investors Load Up Their Bags As Majority Of Cryptos Nosedive<\/a><\/div>\n

A broader look at Toncoin\u2019s price history shows that the token has been on an ascent since the start of August. After plunging to a year-to-date (YTD) low of $1.18 on the 4th of August, TON is currently on a nearly 64% price rally.<\/span><\/p>\n

The TON token is currently valued at $1.93, according to CoinGecko data. If this bullish momentum and the buying pressure continue to build, investors could see Toncoin return to the $2 mark.\u00a0<\/span><\/p>\n

However, technical indicators do not seem to be in favor of the bullish momentum continuing. The daily Relative Strength Index (RSI), an indicator that tracks the balance between the buying and selling pressure of a token, is currently in the oversold region.<\/span><\/p>\n

The daily RSI in the oversold zone can be an indication of a potential trend reversal. In this situation, this means that investors could see Toncoin reverse all its gains and embark on a downward trend.<\/span><\/p>\n

Can Toncoin Break Into The Top 10 Crypto Ranking?<\/strong><\/h2>\n

This recent positive performance has catapulted Toncoin onto the verge of becoming one of the top 101 largest cryptocurrencies by market cap. According to CoinGecko data<\/a>, TON is the 12th-largest cryptocurrency with a market cap of roughly $6.64 billion.<\/span><\/p>\n

This puts it ahead of Polkadot, Polygon, and Litecoin, who occupy the 13th, 14th, and 15th positions, respectively. If TON continues its current price rally in this existing market condition, breaking into the top 10 ranking might be a possibility.<\/span><\/p>\n

Related Reading: Polygon (MATIC) Drops Below Crucial Level \u2013 Will Sellers Exit?<\/a><\/div>\n

Interestingly, a significant 92% increase in the token\u2019s daily trading volume adds further optimism to this scenario. An increase in trading volume can be a signal that investors are still dabbling into an asset.<\/span><\/p>\n

With this, it would only be short-sighted to rule out more gains for the altcoin in the coming weeks.<\/span><\/p>\n

\"Toncoin\"<\/p>\n

TON's daily Relative Strength Index in the oversold zone | Source: TONUSDT chart on TradingView<\/a><\/pre>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Over the past 24 hours, the majority of the crypto market has been moving slowly, with the premier cryptocurrency Bitcoin falling below the $26,000 mark again. Toncoin, on the other hand, continues to defy the current market conditions, registering a significant price climb in the past day. The TON price experienced a substantial increase on the first day of September, which is consistent with its overall trend in August. TON Soars By 11% In A Single Day Toncoin currently leads the altcoin market as one of the top gainers following an 11% price rise in the past 24 hours. In the same period, altcoins such as ETH and XRP appear to have succumbed to general market sentiment, suffering a 1% and 2% price dip, respectively. Interestingly, TON’s latest price spike only underscores its impressive performance in the past few weeks. According to data from CoinGecko, the value of the cryptocurrency has swelled by more than 35% in the last seven days. Related Reading: Toncoin (TON) Investors Load Up Their Bags As Majority Of Cryptos Nosedive A broader look at Toncoin\u2019s price history shows that the token has been on an ascent since the start of August. After plunging to a year-to-date (YTD) low of $1.18 on the 4th of August, TON is currently on a nearly 64% price rally. The TON token is currently valued at $1.93, according to CoinGecko data. If this bullish momentum and the buying pressure continue to build, investors could see Toncoin return to the $2 mark.\u00a0 However, technical indicators do not seem to be in favor of the bullish momentum continuing. The daily Relative Strength Index (RSI), an indicator that tracks the balance between the buying and selling pressure of a token, is currently in the oversold region. The daily RSI in the oversold zone can be an indication of a potential trend reversal. In this situation, this means that investors could see Toncoin reverse all its gains and embark on a downward trend. Can Toncoin Break Into The Top 10 Crypto Ranking? This recent positive performance has catapulted Toncoin onto the verge of becoming one of the top 101 largest cryptocurrencies by market cap. According to CoinGecko data, TON is the 12th-largest cryptocurrency with a market cap of roughly $6.64 billion. This puts it ahead of Polkadot, Polygon, and Litecoin, who occupy the 13th, 14th, and 15th positions, respectively. If TON continues its current price rally in this existing market condition, breaking into the top 10 ranking might be a possibility. Related Reading: Polygon (MATIC) Drops Below Crucial Level \u2013 Will Sellers Exit? Interestingly, a significant 92% increase in the token\u2019s daily trading volume adds further optimism to this scenario. An increase in trading volume can be a signal that investors are still dabbling into an asset. With this, it would only be short-sighted to rule out more gains for the altcoin in the coming weeks. TON’s daily Relative Strength Index in the oversold zone | Source: TONUSDT chart on TradingView Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":539045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12143,87378,87713,88282],"class_list":["post-549853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ton","tag-ton-price","tag-toncoin","tag-tonusdt"],"acf":[],"yoast_head":"\nToncoin (TON) Continues To Ride Bullish Wave, Eyes To Reclaim $2 Level<\/title>\n<meta name=\"description\" content=\"Toncoin continues to defy the current market conditions, with a significant price climb in the past day - road to $2?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/toncoin-ton-continues-to-ride-bullish-wave-eyes-to-reclaim-2-level\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toncoin (TON) Continues To Ride Bullish Wave, Eyes To Reclaim $2 Level\" \/>\n<meta property=\"og:description\" content=\"Toncoin continues to defy the current market conditions, with a significant price climb in the past day - 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. 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