Toncoin On Fire: Crypto Explodes To All-Time High – Can It Hit $10?

Telegram-backed Toncoin (TON) has been the talk of the crypto town lately, its price soaring to a record-breaking $8.15 before settling around $7.60. This dramatic rise, coupled with technical indicators flashing both caution and bullish signals, has investors on the edge of their seats, wondering: is this a short-lived party or the beginning of a major ascent? Related Reading: Forget The Dip! XRP Primed For Epic Rally To $36, Expert Claims Cup, Handle Hints At Takeoff, But TDS Warns Of Bumpy Ride Analysts are divided on TON’s immediate future. Crypto technician Ali Martinez throws a bucket of cold water on the recent euphoria, pointing to a “sell signal” on the TD Sequential indicator. This suggests a potential price correction lasting 1-4 trading sessions. The TD Sequential presents a sell signal on the #Toncoin four-hour chart, predicting a correction of one to four candlesticks for $TON! pic.twitter.com/Yg4Da5PH8b — Ali (@ali_charts) June 23, 2024 Investors bracing for a dip should find solace in the Fibonacci retracement levels acting as potential support nets. These levels sit at $7.44, $7.29, and possibly even $7.18, offering TON a soft landing during the descent. However, Ali’s short-term bearishness is countered by Alex Clay’s long-term bullish perspective. Clay, another crypto analyst, sees a bullish “Cup and Handle” pattern brewing on the charts. This pattern, historically a friend of bulls, suggests a continuation of the uptrend after a consolidation phase. The analyst further strengthens his bullish case by pointing to TON’s recent breakthrough of a major resistance zone, which is now expected to act as a springboard for further gains. #TON/USDT Update $TON is consolidating above the broken supply zone

Jun 24, 2024 - 12:00

Toncoin On Fire: Crypto Explodes To All-Time High – Can It Hit $10?

Telegram-backed Toncoin (TON) has been the talk of the crypto town lately, its price soaring to a record-breaking $8.15 before settling around $7.60. This dramatic rise, coupled with technical indicators flashing both caution and bullish signals, has investors on the edge of their seats, wondering: is this a short-lived party or the beginning of a major ascent?

Cup, Handle Hints At Takeoff, But TDS Warns Of Bumpy Ride

Analysts are divided on TON’s immediate future. Crypto technician Ali Martinez throws a bucket of cold water on the recent euphoria, pointing to a “sell signal” on the TD Sequential indicator. This suggests a potential price correction lasting 1-4 trading sessions.

The TD Sequential presents a sell signal on the #Toncoin four-hour chart, predicting a correction of one to four candlesticks for $TON! pic.twitter.com/Yg4Da5PH8b
— Ali (@ali_charts) June 23, 2024

Investors bracing for a dip should find solace in the Fibonacci retracement levels acting as potential support nets. These levels sit at $7.44, $7.29, and possibly even $7.18, offering TON a soft landing during the descent.

However, Ali’s short-term bearishness is countered by Alex Clay’s long-term bullish perspective. Clay, another crypto analyst, sees a bullish “Cup and Handle” pattern brewing on the charts. This pattern, historically a friend of bulls, suggests a continuation of the uptrend after a consolidation phase.

The analyst further strengthens his bullish case by pointing to TON’s recent breakthrough of a major resistance zone, which is now expected to act as a springboard for further gains.