- A 3% gain has lifted the Toncoin price to $3.93.
- TON’s daily trading volume has jumped by over 82%.
The crypto market turbulence continues, dragging the largest asset, Bitcoin, to $82.1K, while the largest altcoin, Ethereum, has dropped to $1.8K. In contrast, Toncoin (TON) shows resilience, climbing over 4.51% against the bearish tide.
The active bullish sentiment could strengthen with a retest of Toncoin’s crucial levels. In the early hours, TON traded at $3.75. With the emergence of bulls, the asset has climbed toward the $3.97 mark.
At the time of writing, Toncoin traded within the $3.92 range, with its market cap reaching $9.77 billion. Besides, the daily trading volume of the asset is resting at $306 million. A total of $442.73K in TON has been wiped out in liquidations.
Can TON Maintain Its Momentum in the Bullish Zone?
TON’s steady bullish pressure could trigger it to mount toward the crucial zone at $3.93. Assuming the asset’s continuous uptrend, the golden cross would emerge and the price might gain its footing and trade above the $4 mark.
If the momentum takes a turn, the asset price might lose steam and test the immediate $3.86 support. The prolonged bearish momentum of Toncoin could likely form a death cross, opening the gateway to decline $3.66.
The Moving Average Convergence Divergence (MACD) line of Toncoin is above the signal line, indicating a bullish crossover. Also, the buying pressure is increasing with the potential of experiencing an upward move.
The asset’s Chaikin Money Flow (CMF) indicator stationed at -0.13 suggests that there is more distribution than accumulation within the market. Meanwhile, Toncoin’s daily trading volume has increased by over 82.34%.
In addition, TON’s Bull Bear Power (BBP) value of 0.147 implies that the bulls have a slight edge over bears. The daily relative strength index (RSI) staying at 61.78 signals the asset is in a moderately bullish zone.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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