Toncoin Crypto Price Prediction 2022 – Thinking of Buying TON? – Cryptonews
Toncoin (TON) crypto surged over 13.74% today and over the last week is currently up by an impressive 26.88%.
Since the bottom of $0.75 on the 18th of June 2022, Toncoin is still up by 146% and trading at $1.85 at the time of writing this article.
Will Toncoin crypto continue to pump throughout the bear market?
Since the end of July Toncoin (TON) crypto has maintained steady pace within a strong looking uptrend. It is only recently that Toncoin has received significant traction and a large amount of trading volume.
Yesterday the price of Toncoin rocketed up to $2.14 and has since then seen a retracement of 14.2%. At the time of writing this article Toncoin resides within a descending channel and could possibly see another breakout to the upside.
Should Toncoin be able to retest the resistance trendline of $1.86 and break through we might see positive price momentum up to the next technical target of $2.00.
It is vital that Toncoin can hold the support trendline of $1.71 in order to prevent loss of price structure and potential continuation to the downside.
It is also worth noting that following the recent bullish momentum Toncoin is now looking overbought on the relative strength index, this could mean that the bulls are running out of morale and a bearish reversal may take place.
A result of Toncoin being able to break through the $2.00 resistance level could reflect that Toncoin might retest the $2.14 swing high from yesterday.
If this level is broken the Fibonacci extension shows a pragmatic technical price target would be $2.25 for Toncoin crypto by Q4 2022.
A recent price catalyst could be the hype associated with the Huobi Global centralized exchange partnering with TON.
Here is the official Tweet highlighting the major event which will end on the 17th September 2022, 12:00 UTC.
Huobi Global is launching a deposit event for TON where traders can make deposits to enjoy high-yield interest.
In order to be eligible, users must complete the TON spot transaction to obtain the TON deposit quota.
In addition to this, it is rumored that Toncoin may also soon launch on the Binance exchange which would create massive exposure and organic volume for TON and most likely positive price action.
According to Coinmarketcap Toncoin has a market capital of $2.2 billion. Currently 1.22 billion TON coins are in circulation of the maximum supply of 5 billion.
With enough solid protocol upgrades and impeccable marketing efforts we could certainly see Troncoin make a 5-10x by the next crypto bull run.
If you are hoping to find a crypto that might 5-10x before the end of this year, Tamadoge might deliver promising results.
A quick 3min read about today's crypto news!