Toncoin (TON) has seen a strong rally in the past few days, with its price increasing by over 40%. It has now broken the $2.25 resistance and is consolidating gains. TON has also surpassed Solana’s market cap, making it the 9th largest crypto by market cap.The bulls were active near the $1.55 support, and a low was formed near $1.567. This was followed by a surge above a bullish flag with resistance at $1.80 on the daily chart. The price then surged above the $2.00 level, surpassing Bitcoin and other cryptocurrencies.Currently, Toncoin is trading above the $2.30 support and the 50-day simple moving average (blue). If it stays above this level, it could start another increase, with the next major resistance being $2.50. If the bulls pump the price above the $2.68 resistance, there could be a move towards $3.00.On the downside, if Toncoin corrects further below the $2.30 support, the first major support is near the $2.12 level. The next support is near the $2.00 level, below which the price may test the crucial support at $1.55 or the 50-day simple moving average (blue). Any more losses could set the pace for a test of the $1.32 level, below which the price could test the $1.20 level in the coming weeks.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | |
| Sentiment | positive |
| Relevance Score | 9 |
| People | None |
| Companies | None, Solana, Bitcoin, CoinChapter.com, Toncoin |
| Currencies | Solana, Bitcoin, Ethereum, US Dollar, Toncoin |
| Securities | None |
