- TON reached a brand new high.
- The key technical indicators indicate that TON may continue to increase in price over the next few months.
Increased trading activities around Toncoin [TON]Market capitalization of the crypto currency linked to popular messaging app Telegram has surpassed that Cardan, CoinMarketCap’s Data has been shown.
TON was trading at an all time high as of the date this article is written. This altcoin traded for $7 in recent days, which represents a 36% increase. TON has seen its price rise by 28 percent in the last 24 hours. Trading volume also increased by 578%.
Santiment’s post on X notes that the recent rise in TON’s and ERC-20 assets is due to a surge in Ethereum’s [ETH] value. CoinMarketCap ranks the top cryptocurrency by value. altcoin’s The price of the stock has increased by 10% within seven days.
How long will TON be able to maintain its momentum?
AMBCrypto analyzed TON’s daily price movement and determined that key technical indicators indicated the potential for a price rally.
As of the time this article was written, TON’s Aroon Up Line orange (orange line) had reached 100%. Aroon measures the trend strength of an asset and can identify potential reversal levels.
The Aroon Up value is very close to 100 when it is used as a measure of the strength of the upward trend and how recent the highest high is.
TON’s Elder-Ray Index confirmed this bullish trend. This indicator is only showing positive values from 28th Feb, in spite of the challenges the market faced during March.
When its value is positive, it means that bull power dominates the market. If its value is high, bulls are dominating the market.
At the time of press, the dotted line indicator for TON was also below its current price.
You can read more about it here Toncoin’s [TON] Price Prediction 2024-25
These dots are now below the price of the altcoin.
The indicator is used to measure the possible reversal of an asset’s direction. This is a signal of bullishness when the dotted lines are under a price. The dotted lines confirm that the asset price is likely to continue on its upward trajectory. The traders interpret it as a signal to exit their short position and enter a long one.
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Source: ambcrypto.com