Toncoin’s (TON) price has hit new heights! Learn about current market patterns and technical analysis to determine if $10 will be the next significant amount.
Some top performers are rising against the tide despite a decline in Bitcoin prices, which has caused a decline in the altcoins sector. Toncoin is one such performer, now trading at record highs.
Notably, the price of TonCoin (TON) has taken the price by storm and recorded a new all-time high of $8.01 today, June 14, 2024. This month, the token has recorded thirteen out of thirty green days. The coin’s price is actively monitored by traders and investors. They want to know if TON’s price momentum will take it to $10. Let’s take a closer see at this subject.
Toncoin (TON) Price Activity in the Market
With its market capitalization now at $19.06 billion, TON is ranked ninth out of the top ten cryptocurrencies, thanks to this upward momentum, according to CoinMarketCap.
Toncoin is presently trading at $7.90, representing a 4.27% increase over the previous day. A 2.42% gain has been seen in the last week. A substantial increase of 10.49% has been noted in the last month.
In addition, the 24-hour trading volume of this coin has increased by 4% and reached $520.38 million. In circulation, there are 2,432,843,115 TON coins.
With an intraday gain of 1.54%, the TON price is currently trading at $7.90, indicating a continued increase in bullish momentum. Toncoin may soon approach the psychological $10 threshold as the trend gains momentum.
According to on-chain data from Artemis, the Toncoin blockchain network has outperformed Ethereum in terms of unique daily active addresses in ten out of the last twelve days in June.
Telegram’s massive user base (900 million) is largely responsible for this surge in activity, as it has substantially increased Ton Coin’s transaction volume and overall network participation.
Will the TON price reach $10?
The uptrend on the daily chart breaks the 50% mark, which reflects the trend-based Fibonacci retracement of the March bull run. Now that this breakout rise has happened, the potential for a Bitcoin bull run is high. If this momentum continues, the surge could reach the $10.05 level next week, as per the Fibonacci levels.
Furthermore, as the post-retest rally gains momentum, a possible broader market recovery next week will boost the altcoins. As a result, the upswing could continue above the $10 mark in June.
