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TON Price Analysis Over Daily Chart In Q1 and Q2 2024, TON's price made significant attempts to break through a supply zone, soaring over 300%. However, it faced a setback in Q3 2024. Despite this, the long-term trend remained upward, even amid several unforeseen events. After the Q3 decline, TON still retains nearly 200% gains, demonstrating a strong foothold. As Q3 comes to a close and we approach Q4 2024, TON has already shown a decent price recovery this month. The price is currently at a dynamic resistance level of 50-day and 200-day EMA. If it manages to break through, the next targets are $6.80 and $8.00. However, if it fails to clear this hurdle, bearish pressure may increase. Investors should avoid FOMO and conduct their own research (DYOR).
BITFINEX:TONUSDLong
by Sam_TCR
Toncoin in Big Trouble As Bears Claim Domination Near $5 Level? Toncoin in Big Trouble As Bears Claim Domination Near $5 Level? Toncoin price slumped below the psychological $5 level indicating a bearish dominance. The TON price DAA divergence indicator curve was headed towards the zero line indicating buyers losing confidence. Toncoin has slipped below the psychological $5 level amid the increasing selling pressure. The price has been hovering constantly for the last two sessions indicating the bear's control at the psychological $5 level. At the time of writing, Toncoin was exchanging hands close to $4.74, recording a 1.25% loss in intraday. TON price has been under strong selling pressure since the arrest of Telegram's CEO Pavel Durov in France. Moreover, the Open Interest data as well as price DAA divergence suggests that the selling pressure might continue to dominate in the short term. Let’s analyze whether bulls may reclaim $5 or Toncoin may suffer more. TON Price DAA Divergence Indicates More Worse Scenario In The Loop Toncoin has dropped nearly 11% a week and has made a strong psychological support of $5 level. Moreover, in tandem with the price drop, there has been a significant development in Open Interest contracts and Price DAA divergence metrics. The Open Interest contracts were nearly $290 Million a week ago, which has dropped to $253 Million at present. The drop in the number of OI contracts in parallel to the price drop highlights the liquidation of positions on the long side. Moreover, As per the data obtained by an on-chain analytics website app.santiment.net, Toncoin's 24 hour active addresses have dropped significantly due to which price DAA (Daily active address) curve was headed towards the zero line indicating fading buyers interest. The daily active address reflects the total number of unique users that have taken part in any transaction. A decrease in DAA indicates the fading interest of the users. Toncoin has a live market capitalization of $11.95 and ranks 10th by market cap. The volume to market cap ratio at 3.3% suggests low volatility in the crypto. It has a circulating supply of 2.53 Billion TON tokens. Can Toncoin Reclaim $5 Level or Suffer More? From a technical point of view, Toncoin price has withdrawn below all the key exponential moving averages of 20, 50 and 200 days suggesting a bearish domination over the trend. Talking more precisely, TON price has slumped below the psychological $5 level and was not able to recover in the last couple of sessions indicating a sellers dominance. On the lower side, the price may find support near $4.5 and $4 levels. From the daily chart it is evident that the sellers influence may continue to drag prices below three months low. Also, the broader market's weakness could further widen the losses. The OI data and price DAA divergence indicator suggests the buyers failure to defend the lower levels. At the time of writing, the Relative strength index RSI line was placed close to 32 points and that of the 14 day Simple moving average line was placed at 35.98 points. Both the lines were headed towards south indicating a bearish trend prevailing in the short term.
CRYPTO:TONUSDShort
by Ritika_TCR
TON trying to breach the 200-day EMA Notably, the TON price has started to display a bullish presence from a critical support zone of $5. At press time, the TON trying to breach the 200-day EMA but was struggling to breach at that point. The price needs a driving catalyst, and the probability of Pavels releasing news could fulfill that role. Now, based on its release, the enthusiasm could advance, which can take its price higher. So, the upcoming month is crucial for TON and has a nail-biting suspense regarding Pavel's case.
BITFINEX:TONUSDLong
by Sam_TCR
1
the $5 support zone is a mustNow, based on its release, the optimism could increase, taking its price higher. But, if the release is denied by France, then the deterioration could continue, too. Close monitoring over the $5 support zone is a must, as it plays a critical role in its future price. As of writing, the sell-offs were large, which took the price below 200-day EMA. Similarly, the RSI has dipped to 37.69, shattering the median line of 50, and MACD has formed a broad histogram-based bearish crossover. The outlook based on its price looks extremely bearish, and $5 support is crucial. On the contrary, the sentiment across the globe related to Povel's release, if it becomes a reality, this sentiment could push the price higher toward the $8 mark.
BITFINEX:TONUSDLong
by Sam_TCR
Toncoin Crashes Amid The News Telegram CEO Pavel Durov's Arrest Toncoin Crashes Amid The News Telegram CEO Pavel Durov's Arrest Meta Description: Toncoin's price crash landed yesterday after the report flashed about the arrest of Telegram CEO Toncoin price crashed nearly 18% in the last two sessions following the news about the arrest of Telegram CEO. The open interest increased by over 47% a day indicating a strong short selling activity. Toncoin's price crash landed yesterday after the report flashed about the arrest of Telegram CEO Pavel Durov. As per the news, Durov was arrested in France soon after his private jet landed in the country. France's Nation Anti-Fraud Office found him responsible for illegal activities on Telegram that he failed to moderate. As per TF1 Media reports on Saturday evening, Durov was arrested at Le Bourget Airport, located north east of Paris. As the news flashed, Toncoin and Notcoin crashed over 15 to 20% yesterday, erasing the previous gains. Moreover, the short sellers activity seemed to be increasing after the news, as the Oi data noted a 55% jump a day. Decoding The Telegram’s CEO Arrest According to French media, the CEO Pavel Durov was facing several charges, including facilitating terrorism, drug trafficking, and the sale of stolen goods. His arrest was strongly related to “suspicious” activities by the messaging app he runs. Pavel Durov was arrested in France despite having the passport of France and UAE. Later on, the Russian embassy condemned the action by France mentioning their efforts to control telegram. Later on, the official twitter handle of Toncoin released a statement that despite the recent news, the community stands strong and totally operational. The tweet further added to the community's commitment towards freedom and decentralization. Impact of Pawel Durov’s Arrest on Toncoin Following the news about CEO Pavel Durov breaking into the markets, Toncoin, which was closely related to Telegram, experienced a sharp crash losing nearly 18% of its value. Just a few hours after the CEO was arrested, Toncoin Open Interest (OI) noted a strong spike as per the data obtained by an on-chain analytics website app.santiment.net. The open interest surged from $190 Million a day ago to $281 Million at the moment indicating a nearly 47% rise. As per the analysts most of these open contracts are undoubtedly shorts or might be hedges against the price crash. At the time of writing, Toncoin was down nearly 4.5% intraday and was exchanging hands close to $5.66. It has a live market capitalization of $14.3 Billion ranking 9th in the crypto space. Moreover, the volume to market capitalization has surged to 12.9% indicating high volatility in the crypto. What’s Next For Toncoin Following the recent price crash, Toncoin price again neared the 200 day Exponential moving average. On the lower side, the $5 level may act as a psychological support for the price and prevent the further fall. The price structure seems to be bullish until it is maintained above the $5 level. The bulls may try to make a comeback if the price reaches the demand zone. However, if Toncoin fails to get the buyers back near the $5 demand and breaks lower, it may invite sellers and the price may crash towards the next support of $3.25 level. On the higher side, the $6.88 may act as a strong hurdle for the bulls. The short term trend outlook may turn bullish if the price manages to break above the $6.8 level.
CRYPTO:TONUSDShort
by Ritika_TCR
there might still be room for a bullish crossThe crypto verse in early July experienced a massive decline, as BTC experienced an abrupt fall, reaching lows around GETTEX:54K , but Toncoin (TON) bounced back quickly and showed incredible resilience in the face of a widespread bearish sentiment. On July 5th, Toncoin (TON) declined to as low as $6.50 before embarking on a robust recovery journey. As of writing, the price traded above dynamic support bands, which signifies bullishness in the long term. At press time, The Toncoin has traded above crucial suppor, which appears necessary for maintaining an ongoing bull trend. The immediate support lies at $6.80, which is close to the psychological level of $7.0, where bulls have succeeded in defending against further downsides. Resistance is seen around levels near $7.50, and $8.00 that witnessed sell-offs on the daily chart. MACD (Moving Average Convergence Divergence) indicator shows the possibility that there might still be room for a bullish cross, contingent on buying pressure. Likewise, the RSI stands at a neutral line around 50.53 and looks headed for the overbought territory, signifying bullishness. Looking forward on the daily chart, The Toncoin’s price path possibly depends on whether or not it can be able to hold above the psychological support at $7.00 and also surge over the resistance at $7.50. If bulls succeed in pushing prices beyond this hurdle, then the Toncoin could test higher levels towards $8.00. Conversely, a breaching below $7.00 could witness the price retesting toward the lower supports at $6.50 and possibly $6.01 if bearishness intensified.
BITFINEX:TONUSDLong
by Sam_TCR
50-day and 200-day EMAs are bullishDespite pessimistic news regarding the Toncoin (TON) and deteriorating major metrics, the TON technical charts exhibit bullish behavior. A higher-high swing price action was witnessed on the daily chart. The long-term trend-based 50-day and 200-day EMAs are bullish, as the prices are trading on top of them, and the bands are acting as dynamic supports for them. The other technical tools, including the MACD and RSI, highlight pessimism for the crypto asset. As MACD has formed a bearish cross, and RSI is below 14-SMA. Therefore, if the TON price breaks the trendline below and surpasses the last swing low, the TON price could turn bearish. On the contrary, if the TON price surges from the upward trendline, it could go to a higher level once it crosses the $8.0 mark.
BITFINEX:TONUSDLong
by Sam_TCR
further examining the daily chatDespite pessimistic news regarding TON and declining major metrics, the TON technical charts depict bullish behavior. As there has been the formation of a higher high swing structure on the chart, which can be observed on the daily chart. Analyst crypto optimistic tweet highlights that the price has been approaching the $7.60 level, and the price on the daily chart has been riding an upward trendline. This tweet signifies that the major analyst perspective is bullish. In accordance with analyst Tweet, on further examining the daily chat, it looks clear that the long-term trend based on 50-day and 200-day EMA looks bullish, as the price happens to be above them. The other tools, such as MACD and RSI, highlight pessimism. Therefore, if the price breaks the trendline below and surpasses the previous swing low, the price could turn bearish. On the contrary, if the price surges from the upward trendline, it could go to a higher level.
BITFINEX:TONUSDLong
by Sam_TCR
Is Toncoin Price Ready For A Big Leap Towards the $10 Mark? Is Toncoin Price Ready For A Big Leap Towards the $10 Mark? The daily TON/USD chart illustrates the formation of an interesting pattern and was trading at a very crucial zone. The volume inflow has nearly doubled in the recent session indicating a bullish scenario. While the major cryptocurrencies are struggling to gain traction in the recent sessions, Toncoin is continuously pushing itself towards the record Highs. The daily chart illustrates the formation of an interesting pattern. the breakout of which may lead the price towards a milestone of $10 Mark. The volume inflow and the social metrics have noted a significant change which may impact the TON price. with a circulating supply of 2.4 Billion, Toncoin ranks 9th in the cryptoverse with a live market capitalization of $18.46 Billion. Social Sentiments On the Rise The recent sessions saw two interesting developments on the on chain activity of Toncoin. The social sentiment metrics social dominance and social volume curve has surged to a 3 month high and was headed upwards. The positive shift in the social metrics points to an increased participation of the social users possibly creating more demand. Moreover, There has been a notable rise in the volume inflow in the recent sessions. As per coinmarketcap.com the volume inflow has surged to 525.4 Million which was nearly 260.1 Million a few days ago. This massive surge in the volume indicates the rising demand of the crypto which may cause the valuation to rise. At the time of writing, the price of Toncoin was hovering close to $7.52 indicating a mild 1.07% rise from yesterday's closing price. Out of 5.10 Billion tokens in total, over 2.43 Billion tokens are currently in circulation. Is Toncoin Poised To Hit the $10 Mark? Toncoin has been on a continuous rise since the very beginning of May Month after breaking out from a correction phase. The price has formed higher lows and has kept itself pushing the All the record high value of $7.67. The daily chart showcases the formation of an ascending triangle pattern with the price hovering close to the resistance of $7.67. The price has made several retest of the resistance making it weaker. Now any sustained move above the $7.67 level may trigger a breakout which may lead the price towards the next higher supply of $10 level. Moreover, if the bears dominate and the price breaks below the $7 level, it may indicate a short term correction and the price may head towards the $6 and $5 levels. Conclusion. Toncoin price is rising towards the record high, despite indecisiveness in the broader market. The social sentiment metrics have hit a three-month peak, suggesting increased demand. The trading volume has more than doubled to $525.4 million, indicating heightened interest. Out of nearly 5.10 Billion tokens in total, 2.43 Billion TON tokens are in circulation. The trend outlook shows a consistent rise since early May, with an all-time high of $7.67. The daily chart illustrates the formation of an ascending triangle, hinting at a possible breakout towards $10 if it surpasses $7.67. Conversely, falling below $7 could signal a correction towards $6 or $5. Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:TONUSDLong
by Ritika_TCR
the next goal for the TON price could be to reach the above Ton price was in an uptrend, and the price stayed above 50-day, and 200-day EMA on the daily chart. From last few sessions, the TON has been developing low momentum candles, signifying consolidation. An analyst, Mister Crypto, Tweeted with the bullish sentiment on the X platform that In TonCoin (TON) a breakout appears imminent out of a symmetrical triangle pattern on the daily chart. Similarly, based on the analyst tweet, the TON asset daily chart also shows bullish gestures. Likewise, the MACD line happens to be above the zero line with an anticipated bullish cross and the RSI flashed at 55.41. Therefore, if the breakout occurs, the next goal for the TON price could be to reach the above levels, such as $7.00 and $8.0. On the contrary, if the price continues to trade inside the pattern again, the pattern made in TON or if the crypto price fails to stay above the $6.0 level, it could also decline further towards, $5.0 support.
BITFINEX:TONUSDLong
by Sam_TCR
Are TON Price Bulls Aiming For $10?Toncoin has a market cap of $22.14 Billion and is ranked 9th in the CMC. It has observed a drop of 54% in the trading volume in intraday session. TON price has seen a rise of 3X in the past three months and is currently trading near $6.37. The token price is currently forming consolidated candles on the daily chart. It is trading above the 50 and 200 EMA.The upside trend of TON can see a halt near the value of $8. Meanwhile, the support price can be seen near $4. The RSI of TON is near 51 suggesting the presence in the neutral zone. The overall sentiment of the RSI and MACD is neutral in nature.
BITFINEX:TONUSDLong
by Ritika_TCR
Notcoin's (NOT) Exchange Debut : Mark Your Calendars for May 16tNotcoin's (NOT) Exchange Debut : Mark Your Calendars for May 16th Notcoin's, NOT token is set to be listed for Trading on 16th May on Binance, OKX and ByBit. OKX and Binance have announced different reward programs for staking the TON and BNB tokens respectively with a total of 4.28 Billion NOT tokens. Notcoin (NOT), a gaming token that can be earned through play and is accessible via a Telegram mini-app. NOT is gaining attention as it's about to be introduced on various prominent cryptocurrency exchanges. The token, which will be created on The Open Network (TON), is scheduled for launch on Binance, OKX, and Bybit on May 16th. In anticipation of the launch, OKX and Binance have unveiled unique staking reward initiatives, offering a combined total of 4.28 billion NOT tokens. OKX's "Jumpstart" initiative begins on May 13th, rewarding Toncoin stakers with 1.28 billion NOT tokens before the official listing date. Introducing @thenotcoin GETTEX:NOT on #Binance Launchpool!Farm #NOT by staking #BNB and CRYPTOCAP:FDUSD .➡️ t.co pic.twitter.com/Y4dGfSGERb— Binance (@binance) May 9, 2024 Meanwhile, Binance is set to offer more than 3 billion NOT tokens, about 3% of the total circulating supply, to users who stake BNB or the FDUSD stablecoin. On the other hand, Bybit has yet to announce any similar incentives. What is Notcoin? Notcoin, a game hosted on Telegram, has become a sensation, amassing a player base of 35 million, with six million of them being active daily. This player engagement far surpasses that of typical cryptocurrency games. Developed by Open Builders, the game operates directly within Telegram and is set to introduce its own token on The Open Network (TON) shortly. The founder shared with Decrypt that launching the token through the game is viewed as an equitable method to allocate tokens among the community members. How is Notcoin game played? Notcoin is essentially a social game that involves clicking. To collect the game's virtual currency, players can access the game through the Telegram app, interact with the Notcoin bot, bring in friends, and start playing. GM pic.twitter.com/W5iFnEf4py— Wallet in Telegram (@wallet_tg) May 9, 2024 In the gameplay, a golden coin appears on the screen, and players tap on it to accumulate Notcoins, the game's virtual money. However, there's a catch: players have a finite amount of energy that gradually diminishes and recharges over time, preventing non-stop clicking. Impact On Toncoin Price? Toncoin's market performance has seen a significant upswing in recent trading sessions, with the price of TON cryptocurrency soaring by nearly 25%. This positive trend is closely linked to the impending listing of the NOT token on several major cryptocurrency exchanges. With the official listing date of the NOT token just around the corner, there's a palpable sense of anticipation that could lead to further gains for Toncoin. The current market dynamics and the upbeat mood among the crypto community point to a warm reception for Notcoin's entry into the trading arena.
CRYPTO:TONUSDLong
by Ritika_TCR
the Toncoin price is currently trading above the key EMAThe Toncoin price has recently been on a strong upward trend, reaching an all-time high. This trend has been supported by strong trading volumes, indicating the strength of the bullish sentiment. However, the price was unable to break the $7 resistance level and dropped slightly, before making another attempt to reach the previous swing high. Thanks to strong buying momentum, the Toncoin price has now reached the previous swing high. If trading volumes decrease and bearish candlestick patterns emerge, the price may see a reversal from the $7 level, with people taking profits. On the other hand, if the digital asset price manages to surpass the previous swing high, it will set a new all-time high. If trading volumes and daily active addresses continue to increase, the bullish trend may continue for the long term. Technical indicators show that the Toncoin price is currently trading above the key moving average, indicating a bullish trend. The RSI has also exceeded the RSI-based moving average, which is a sign of positive momentum.
CRYPTO:TONUSDLong
by Sam_TCR
Is The BullISH Trend Over For The TON Price?Toncoin is the native token for the The Open Network which is supported by various network contributors including the non profit TON foundation. Telegram was initially the developer of TON but ended its involvement in 2020 after the court order by SEC. Since2020 the protocol has been developed by independent contributors. The protocol uses proof of stake for scalability and security for the network. The sharding infrastructure of the network makes it more desirable to use for the payment methods. Toncoin has a security score of 92.34 and is ranked among 10th percentile as per the audit done by the Certik. Let's have a look towards the network activity of the protocol
BITFINEX:TONUSD
by Ritika_TCR