{"id":26704,"date":"2024-08-14T15:30:48","date_gmt":"2024-08-14T12:30:48","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26704"},"modified":"2024-08-14T12:09:00","modified_gmt":"2024-08-14T09:09:00","slug":"toncoin-analysis-will-it-hit-a-new-all-time-high","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/toncoin-analysis-will-it-hit-a-new-all-time-high\/","title":{"rendered":"Toncoin Analysis: Will It Hit a New All-Time High?"},"content":{"rendered":"

With Toncoin\u2019s<\/strong> TVL (total value locked) surpassing the $600 million milestone, the bullish growth continues in its market value. Ranking at #8 in the top 10 crypto and a market cap of $16.80 billion, TON price<\/strong> trades at $6.72 and an intraday gain of 6.2%. Will this bullish revival skyrocket the altcoin price to a new all-time high this month?<\/p>\n

TON<\/strong> price action reveals a resilient bullish cycle in motion with a 26% jump in the last 9 days. Impressively, the triple white soldier pattern forming over the last 3 days accounts for a 8.21% jump, which challenges the overhead resistance trendline.<\/p>\n

 <\/p>\n

\"\"
Toncoin’s last 1-month price index. Source: CoinGecko<\/figcaption><\/figure>\n

The recent V-shaped reversal in TON<\/strong> price from $5 failed to surpass the 50-day EMA and the resistance trendline. Thus, a bullish failure leads to a retest of the $6 breakout.<\/p>\n

The underlying demand at the psychological mark of $6 led to a post-retest rally, forming a morning star pattern. Despite facing multiple bearish reversals from the overhead resistance trendline, the ongoing recovery rally in TON<\/strong> prices teases a bullish breakout.<\/p>\n

As per the trend-based Fibonacci level, the $6 retest aligns with the 23.60% Fibonacci level, which results in the high-momentum reversal in action.<\/p>\n

Technical indicators:<\/h2>\n

EMA:<\/strong> The 20D EMA breaks below 50D and 100D EMA due to the crash in early August.<\/p>\n

MACD:<\/strong> The bullish crossover in the MACD and signal lines are gaining traction with a surge in positive histograms. Hence, a positive trend in the momentum indicator supports breakout chances.<\/p>\n","protected":false},"excerpt":{"rendered":"

With Toncoin\u2019s TVL (total value locked) surpassing the $600 million milestone, the bullish growth continues in its market value. Ranking at #8 in the top 10 crypto and a market cap of $16.80 billion, TON price trades at $6.72 and an intraday gain of 6.2%. Will this bullish revival skyrocket the altcoin price to a<\/p>\n","protected":false},"author":6,"featured_media":24021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[397,398],"class_list":["post-26704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-news","tag-ton","tag-toncoin"],"yoast_head":"\nToncoin Analysis: Will It Hit a New All-Time High? - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/toncoin-analysis-will-it-hit-a-new-all-time-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toncoin Analysis: Will It Hit a New All-Time High? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"With Toncoin\u2019s TVL (total value locked) surpassing the $600 million milestone, the bullish growth continues in its market value. 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