Toncoin Eyes $10 As Ton Price Jumps 20% Within Fortnight

The post Toncoin Eyes $10 As Ton Price Jumps 20% Within Fortnight appeared first on Coinpedia Fintech News

With the strength of bulls growing on a daily basis as Bitcoin crosses above $71,000, the Toncoin price shows a massive upswing in motion. With a breakout rally at play, the TON price shows huge upside potential as the market gains momentum. 

Ignoring the resistance and supply pressure in unchartered all-time high levels, the altcoins are offering massive chances.  Will the bullish trend continues in the Toncoin to hit the overhead psychological milestone of $10?  

Toncoin Price Performance

With a market cap of $18 billion, the Toncoin price shows a bullish swing in motion with a gradual rise in momentum. With a 32% jump in trading volume, the TON price trend shows additional incoming buying pressure bolstering the bull run. 

Further, with a 30% rise in the last 30 days, the altcoin offers lucrative upside potential to the sideline traders. 

Tradingview

In the 1D chart, the bullish trend in Toncoin price shows long-coming support and the recent bounce back surpassing the overhead resistance trendline. With this bounce back, buyers maintain dominance over the 50D EMA and the support trendline.

Further, the breakout rally gains momentum, with the recent upcycle accounting for a 20% jump in five days. As the buying pressure overtakes the $7.50 mark, the bull run in Toncoin could reach the $10 psychological mark. 

Technical indicators:

EMA: The bullish trend in the 50D and 200D EMA’s underlying sentiments are positive. 

RSI: The daily RSI line shows a bullish trend approaching the overbought boundary as the demand grows. 

Will TON Price Hit $10?

As per the trend-based Fibonacci levels, the uptrend in the Toncoin breaks above the 50% level. This teases the TON price jump possibility to the $10 psychological mark. Further, the bullish breakout rally picks up pace as the broader market sentiment improves. Hence, the uptrend could continue above the $10 milestone in June.