The post Toncoin Maintains Strength While, the Top Cryptos Consolidate: Can TON Price Form New ATH Above $10? appeared first on Coinpedia Fintech News

Toncoin price has been displaying enough strength since the last trading day, as the bulls appear to have jumped. The token marked new highs at around $7.67 a couple of days before and is now heading back to secure more highs after a retracement. With the buying volume kicking in again, the TON price now displays a huge possibility of forming a new ATH above $8 anytime from now on. 

Since the beginning of March, the TON price has surged massively, gaining over 260%. While the market dynamics flipped to some extent, which caused the BTC price to slump below $60,000, the Toncoin price maintained a healthy upswing. However, it did shed some gains but it does not appear to have negatively impacted the rally in any manner. 

The daily chart of Toncoin appears to be extremely bullish as the price regains momentum and heads back towards 1 FIB levels. The token is surging along the ascending trend line, which has been acting as strong support ever since it broke out of the consolidation. The RSI has displayed a bullish divergence, which may help the price test the current ATH in the next few hours and eventually enable the price to mark new highs at around 1.2 FIB level at $9, surpassing $8. 

Currently, the Toncoin price is trading at $6.99, with a remarkable rise of over 14.8% and an increase in the buying volume, which stands at over $500 million. On the other hand, the Toncoin chain also achieved a new milestone by surpassing $148 million in TVL (Total Value Locked). The bullish trend in the TVL as well as the TON price is attributed to Telegram’s partnership with HumanCode, which has generated anticipation and excitement among investors. 

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Filed under: Bitcoin - @ April 19, 2024 5:18 am