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Toncoin price is up 13% in the past week, despite a 2.5% decline in the past 24 hours trading for $7.95 as of 7:30 PM EST, trading volume fell 49% to $430 million.
Renowned crypto analysts Altcoin Sherpa, with 217,000 followers on $TON: Only a matter of time before this ATH breaks in the next period as long as btc is fine.
According to CoinGecko, TON, the native token of The Open Network, a proof-of-stake blockchain, hit a new all-time high of $8.25 on June 15.
The Open Network has experienced a surge in demand due to the popularity of TON-based games such as Tapswap, Pixelverse and Notcoin.
Toncoin Price: Key Resistance and Support Areas to Watch
Over the past three months, Toncoin has shown a steady uptrend, supported by an upward trendline on the daily chart. This dynamic support has allowed buyers to maintain a series of higher lows, indicating that investors are actively accumulating assets during market dips.
The price has now formed a bullish pennant after hitting a new all-time high of $8.25, leaving bears struggling to keep the price under control, according to GeckoTerminal facts.
However, sentiment remains positive for Toncoin traders, who expect the bullish trend to continue after the pennant formation. If momentum increases, it could push the price above the key resistance point at USD 8.25, confirming the upcoming bull rally.
TONUSD analysis (source: Dextools.io)
Toncoin price signals a jump on the pennant’s lower trendline above the 50-day simple moving average (SMA). The 200-day SMA still provides solid support and helps maintain the bullish momentum. If Toncoin continues to rise, it could break above the 50-day SMA and surpass the pennant’s upper trendline.
Although the Relative Strength Index (RSI) has been in a bearish trend in the short term, it has recovered from the oversold area at 30, crossed the midline at 50 and reached 63, indicating strong buying pressure. This increased buying pressure could push the country back into the overbought zone.
Moreover, the green histogram bars on the Moving Average Convergence Divergence (MACD) indicator and the recent crossover of the blue average line over the orange signal line further support Toncoin’s bullish outlook.
Toncoin Price Prediction: Can the Bulls Keep the Momentum Beyond the Pennant?
Toncoin price is poised for a significant bull rally despite resistance broken by the pennant’s upper trendline. Moreover, with the support of the technical indicators, traders are taking advantage of the bullish pennant to fuel upward momentum towards a potential new all-time high of $11.82.
However, if the bears persist in pushing the price down from the upper trendline, they could exert downward pressure, pushing the price towards the $6.83 support level that coincides with the 50 SMA. Continued downside pressure could result in a retracement below the lower trendline, reaching the support level around $6.12.
Sealana pre-sales are gaining momentum, with more than $4 million raised as launch approaches
As TON price traders expect a bull rally, investors rush to buy Sealana ($SEAL) before the presale ends on June 25 at 6:00 PM UTC.
The pre-sale has already raised over $4 million in funding, nicely positioning the new meme coin SEAL and its adorable seal mascot to challenge the top Solana meme coins including Dogwifhat (WIF), Bonk (BONK ) and Book of Meme (BOME).
What better way to show your love for Lambos, Massive Gains & Freedom than one #UNITED STATES tattoo to show for it! 🇺🇸 #Sealana knows what’s best for American made #Memecoins and has a plan to make them great again! 🦭
To steer $SOL 💸 and let him be an example to everyone #Degens!💪 #MAGA pic.twitter.com/B4aBZ2wEbI
— Sealana (@Sealana_Token) June 14, 2024
Sealana is a chubby seal who lives in the Solana Sea and sits in front of his computer all day, gaining weight as he gorges on chips and canned tuna. Obsessed with finding the next big Solana meme coin, he’s always busy, with his flippers typing and his living room a mess.
Adopting a theme of American patriotism, Sealana is capturing the interest of the Solana community and appealing to conservative investors who typically support former U.S. President Donald Trump.
Resembling @thenotoriousMMA didn’t like it #Sealana asked why he drank whiskey at the #Roadhouse instead of fighting in the octagon… 🥊 If only he knew before he raised his fists that Sealana was a 300 pound ex-army $SEAL… 🪖🦭
It won’t be a fair fight, but no one will… pic.twitter.com/L1TqztPiAX
— Sealana (@Sealana_Token) June 10, 2024
Crypto analyst and YouTuber Cilinix Crypto, with over 63,000 subscribers, says Sealana is one of the presale meme coins he bought this year.
With just over nine days to go until the presale ends, potential investors can still purchase SEAL tokens for $0.022.
Buy SEAL here on the website with ETH, USDT or bank card.
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