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Bitcoin and Toncoin prices had a great start to the week as the prices of both digital assets surged on Monday. At press time, the BTC and TON were trading at $62,716 and $7.34, respectively. The broader crypto market also showed some signs of recovery during the first trading session of the week.
The positive BTC price action also caused an uptick in altcoins. The effect was evident by a $4.65 billion increase in the Total3 market capitalization, which shows the size of the altcoin market.
With a 5.83% surge on Monday, TON/USD is looking very bullish. On a monthly timeframe, this translates into a 41% surge with potential for more upside in the coming days. This move seems to be fuelled by the evolving Toncoin ecosystem and the recent investment from the industry giant Pantera Capital.
On a daily chart, TON is heading toward its all-time high of $7.70, marked by the red line on the following chart. This will be a very critical retest to watch as a breakout could unlock a huge upside.
On a 4H timeframe, the price is also respecting an upward trendline which shows a persistent buying pressure on the price. Toncoin price prediction of $10 could be well within reach if the bulls break above the $7.70 resistance and flip it into a support zone.
A look at the daily chart of the BTC/USD reveals that the bulls are orchestrating a recovery after last week’s price decline. The support level around $60,800 seems to be pretty solid as bears failed to push the price below it on the weekend. Consequently, Bitcoin's price once again gravitates toward the $63,750 resistance, which lies in the middle of the current trading range.
This level also has confluence with the downward trendline, which must be broken for a bigger rally. Such a breakout could push the price toward the next resistance zone of $66,800, which caused a major rejection in April.
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