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Toncoin Price Prediction: Will Stable Momentum Push TON Toward $3.66?
Despite a week’s 7.03% decline, the Toncoin (TON) price has stabilized at $3.36, indicating that the token is holding its ground in an otherwise quiet crypto market. The recent surge of 1.1% over the past 24 hours suggests short-term bullish momentum.
At press time, TON is trading at $3.38, reflecting a modest 0.89% increase over the last 24 hours. This follows a decline in daily trading volume, which has plummeted by 30.36% to $269.14 million, while market capitalization stands at $8.64 billion.
A crucial level for TON appears to be $3.17, where it found support earlier this month and has since avoided more significant declines. In the event that buying pressure intensifies, the next potential target could be the previously established resistance level around $3.66. Conversely, if the price slips below $3.17, a drop toward $2.69 may occur.
Market indicators suggest cautious optimism regarding TON’s price movement. The relative strength index (RSI) currently sits at 57.31, indicating that there is still room for the price to rise before overheating. Meanwhile, the moving average convergence divergence (MACD) shows a slight positive shift, hinting that momentum could begin leaning upward if current conditions persist.
The OI-weighted funding rate has also turned slightly positive, suggesting mild bullish sentiment among leveraged traders.
Source: www.tronweekly.com
