- 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.
