Toncoin (TON) Sustains Bullish Rally with 38% Surge This Month
- Toncoin has shown an additional price increase of 5.48% in the past day.
- The altcoins daily trading volume has dipped by 2.33% as per CMC data.
In the past day much to investors joy two prominent market experts advocated for Bitcoins bullish movements. Cardano founder, Charles Hoskinson, has predicted that Bitcoin DeFi would show huge dominance within a span of 3 years. Another prominent personality, the author of Rich Dad Poor Dad, Robert Kiyosaki made a statement warning people to not be left behind and buy Bitcoin before it hits $100K.
Meanwhile, the altcoin sector continues to exhibit bullish signs as AltSeason extends its influence over the market. One particular altcoin, TON, has remained bullish over the last 30 days. This bullish trend has resulted in the token surging 38.97% in November.
In the last 24 hours, Toncoin factored in an additional 5.48% price increase. This has caused the cryptocurrency to hit a 98-day high of $6.69. Moreover, the cryptocurrencys daily chart depicts a steady price increase beginning at $6.4 and reaching current trading levels. At the time of writing, TON was trading at $6.85 as per CMC data.
Zooming out, over the past week, the altcoin surged 18.44% adding to the optimistic monthly performance. If TON sustains its bullish momentum, it might inch closer to its ATH at $8.24. Meanwhile, the TON ecosystem has made several advancements in the past few months.
Will Toncoin (TON) Stay Bullish in December?
With 2024s Q3 approaching an end, it has led to anticipations about price actions. On inferring Tons previous price movements, it can be observed that it traces an ascending channel pattern. An ascending channel pattern suggests a bullish trend and further upward movements.
Additionally, the altcoins Moving Average Convergence Divergence (MACD) signal line ranges above the MACD line as per TradingView data. This further highlights the positive momentum. TONs RSI standing at 74.48 indicates an overbought market situation revealing the heightened interest among investors.
Furthermore, TONs recent project, the TON Teleport BTC also recently released its white paper to the community. Furthermore, the blockchain is also building its own memecoin platform as per reports.
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Read more: https://thenewscrypto.com/toncoin-ton-sustains-bullish-rally-with-38-surge-this-month/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
