Toncoin has shown positive momentum in the last 24 hours, with its price rising to $7.50.This upward trend is supported by a significant trading volume of approximately $191.8 million, indicating active participation from traders.TON coin’s price rise reflects a broader recovery in the cryptocurrency market, with Toncoin demonstrating resilience above the $7.0 level.
A daily chart for the TON coin involves a consolidation pattern fluctuating around $7.50. This kind of stability is good after a recent volatile period in the crypto markets. The diagram demonstrates that the TON token remains strong and above its twenty-day exponential moving average (EMA) which is standing at 7.18 dollars, acting as a dynamic support.
The intraday trading data shows that Toncoin is currently testing resistance at $7.53.Toncoin could hit new highs towards the level of 8 dollars should it manage to break out above it as seen on the intraday graphs dating back from early June till now. The immediate support level stands at the fifty-day EMA which is pegged at 6.52 US Dollars thus providing additional cushioning against any downward movements.
Moving averages indicate a bullish trend for Toncoin. The market sentiment can be gauged by noting that all three EMAs (20-day, 50-day0, and 100-day) are up-trending since they are pointing upwards.
The RSI is currently at 53.46, suggesting that Toncoin is neither overbought nor oversold at this juncture. This indicates that there is room for the price to move either way without immediate pressure from overbought conditions. Additionally, the RSI’s stable position suggests balanced buying and selling activities.
The Moving Average Convergence Divergence (MACD) indicator shows a slight bullish crossover, with the MACD line (blue) just above the signal line (red). TON Immediate support lies at $6.52, its 50-day EMA, while the next support is seen around $5.36 where the 200-day EMA is located. The immediate resistance stands at $7.53 with possible targets of around $8.00 in case this level is broken.
Despite a slide in the past seven days, Toncoin continues to attract large investors’ attention. According to IntoTheBlock data, whale transactions ($100,000+) exploded by nearly 983% to hit a total of approximately $4.1 million. Although this figure is still below May’s highs, it marks a rebound from recent lows in early June of this year. This increase in big fish movements shows that institutional investors are very interested and confirms their bullishness.
In the derivatives market, the open interest for TON has stayed relatively unchanged over the last week currently standing at about $269.3 million with a slight growth of 0.5 % on Bybit today mainly. Bybit saw a modest jump in open interest yesterday but not enough to move the dial much. Often cited as an important level for Toncoin, analysts identify $7.5.The token has been trading between its all-time high of $8.26 and $6.75 since April which makes $7.5 an important midpoint resistance point.
Looking ahead if it fails here again we could see a dip back to around $6.75 offer bulls another chance and try to break anew through above there again. Failing here would mean that bulls have lost control and bears could take advantage, dragging prices lower below previous areas of support closer to prices around $6.55.