TON Coin Price Prediction: A New SURGE or DIP Ahead?
Toncoin's impressive growth in the cryptocurrency market shows no signs of slowing down. On-chain data reveals that large investors, or "whales," are making significant moves, indicating a potential price rally for TON.
Toncoin (TON) Price Analysis
Whales Drive Toncoin's Market Dynamics
The on-chain data for Toncoin highlights the significant influence of large transactions on the market. Over the past week, these transactions have shown notable fluctuations, peaking on June 23 with 32 large-scale trades.
Increased Whale Activity and Volume
On June 27, Toncoin's transaction volume hit an impressive 172 million TON, demonstrating increased interest from major holders. This surge in activity typically precedes significant price movements, suggesting that whales are preparing for a possible rally.
Toncoin (TON) Price Prediction
Toncoin (TON) Resistance Levels
Toncoin's price chart shows a consistent upward trend, supported by the 50-day, 100-day, and 200-day moving averages. This indicates sustained bullish momentum. Currently, the price hovers around $7.50, with $8.00 being the next critical resistance level. Breaking these levels will mean reaching an all-time new high level and by that perhaps competing with major altcoins.
Toncoin (TON) Key Indicators
The Relative Strength Index (RSI) for Toncoin stands at a neutral 57, suggesting that TON is neither overbought nor oversold. This neutral position implies potential for further growth. If the RSI approaches the 70 level, it could validate the bullish trend and encourage a price rally.
From a fundamental perspective, Toncoin is making strides in blockchain technology, attracting a significant number of new developers. Supported by one of the world's largest messaging apps, TON is well-positioned in the evolving ecosystem. However, its ability to compete with major cryptocurrencies like Solana and Ethereum remains to be seen.
Read more: https://cryptoticker.io/en/ton-price-prediction-toncoin-surge-or-dip
Text source: CryptoTicker
