Toncoin Price Prediction: Is a Bull Rally Imminent?

The Toncoin price surged 9% in the last 24 hours to trade at $5.97 as of 3:35 a.m. EST on a 185% surge in trading volume to $1.12 billion.

Toncoin price increased by 9% in the last 24 hours and was traded at $5.97 with a trading volume of $1.12 billion as of 3:35 am.

This increase came after the news that TON will be listed on Binance, the world's largest cryptocurrency exchange, today.

#TONCOIN is now listed on binance! It's time to buy Toncoin. #Binance pic.twitter.com/RQGXxYqPYT

— CRYPTOonX (@namanshukla328) August 8, 2024

The token was launched on the platform today at 10:00 UTC, covering four trading pairs: TON/BTC, TON/USDT, TON/FDUSD and TON/TRY.

Toncoin Price Analysis: Is a Bull Market Approaching?

Toncoin has been in a steady uptrend with the bulls pushing the price up, supported by a bull channel on the daily chart. This dynamic support allowed buyers to maintain a series of higher lows, indicating active asset accumulation during market declines.

But then as the price rose, the bulls reached a new all-time high of $8.25 before the price fell and fell below the channel to the support zone of $5.3, under pressure from the bears, as the bulls struggled to regain control.

The current support zone looks strong and allows the bulls to regroup and move the price upwards. Additionally, the support zone is aligned with the 200 simple moving average (SMA).

TONUSDT Analysis (Source: Tradingview)The bulls moved up from below the lower trend line of the channel, rising steadily with the price. However, the price is still trending below the 50-day SMA, which may be a chance for the bears to move the price downwards again.

While a bear phase was observed in the Relative Strength Index (RSI), it jumped from the 30 level in the oversold region, crossed the 50 level, which is the middle line, and rose to the 56 level. This indicates that there is strong buying pressure for Toncoin price, which could push the RSI into overbought territory.

Another indicator that further strengthens Toncoin's bullish outlook is the green histogram bars on the MACD indicator and the last intersection where the blue line crosses over the orange signal line. If this upward momentum continues, the price could break the upper trend line.

Toncoin Price Prediction

Toncoin price is preparing for a significant bull market despite the resistance formed by the upper trend line of the ascending triangle. Backed by strong technical indicators, traders are using this bullish formation to create momentum towards a new all-time high at $11.82.

A bullish trend prevails among Toncoin traders in anticipation of the continuation of the bullish trend following the pennant formation. This momentum could confirm the expected bull market by breaking the key resistance level at $8.25.

Base Dawgz Presale Reaches $2.8 Million: What's the Best Meme Coin to Buy Right Now?

The bullish sentiment on Toncoin is heading towards $3 million with the pre-sale of Base meme coin Base Dawgz (DAWGZ).

Congratulations on passing $2.8 million DAWGZ ?

We are getting closer. And hopefully we can give you an update next week? pic.twitter.com/mRvjOMwD6F

— Base Dawgz (@BaseDawgz) August 3, 2024

While Base Dawgz resides on the Base blockchain, it works seamlessly on Ethereum, Solana, Binance Smart Chain, and Avalanche, offering a unique multi-chain experience.

Additionally, holders can earn an incredible 934% annual return by staking their DAWGZ tokens. The team determined that the token supply

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