Toncoin (TON) price is predicted to increase in the near future!

Bittime - Toncoin (TON) emerged as a digital currency that caught the attention of investors and analysts. With dynamic price movement patterns and significant growth potential, Toncoin is becoming a hot topic among the crypto community. Recently, TON has experienced a significant increase along with the planned listing of a new token from the TON network, namely Notcoin (NOT).

What is Toncoin (TON)

Toncoin is the crypto asset of The Open Network (TON), a decentralized blockchain originally developed by popular messaging app Telegram, but now independently developed and managed by the TON Foundation.

Toncoin is often referred to as TON, and is a digital currency used for various network operations including payments on the Telegram app and other applications built on top of the TON network.

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TON Price Today

Currently, Saturday 11/05/2024, TON is trading at a price of IDR 110,681. The price of TON has slightly decreased by 0.65% in the last 24 hours. TON had soared along with the emergence of news related to the plan to list one of the tokens from the TON network, namely Notcoin.

Source: Bittime

TON Price Corrected

From April 10 to May 1, Toncoin experienced a steady correction, influenced by the flag pattern on its chart. This bearish reversal decreased the asset value from $7.68 (around Rp123,187) to $4.6 (around Rp73,784), recording a decrease of 40%. This pattern is usually interpreted as a period of consolidation before the next price spike.

On May 9, there was a significant increase in buying in the TON price, which resulted in a breakout of the overhead trendline. An intraday increase of 4.66% pushed the price of Toncoin to $6.7 (approximately Rp107,468), signaling a continuation of the bullish recovery that has begun.

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Toncoin Price Prediction

Based on Coingape's report, if the purchase of TON continues, the price of Toncoin is predicted to increase by 38%, reaching the target of $9.23 (around Rp148,057). However, with a more ambitious bullish pattern, the price of Toncoin could reach the level of $22.5 (around Rp360,900).

In this context, the price of Toncoin can be expected to move between resistance at $7.67 (around Rp123,036), $10 (around Rp160,400), and $15 (around Rp240,600).

Technical Indicators:

• EMA (Exponential Moving Average): A rise in TON price above the 20- and 50-day EMAs indicates a shift in bullish sentiment in the short term.
• ADX (Average Directional Index): The daily ADX slope of 18% indicates that buyers have enough momentum to lead a sustained rally.

Meanwhile, Changelly, predicts the price of Toncoin to increase by 11.24% and reach $6.53 (approximately IDR 104,731,200) on May 10, 2024. In addition, CoinCodex predicts that in the short term, the price of Toncoin could reach $8.86 (around Rp142,154), and in the medium term, up to $22.43 (around Rp359,771).

Conclusion

Taking into account the dynamic and highly volatile market conditions, investors and crypto market participants are advised to closely monitor the development of the Toncoin price and technical indicators. Thus the price prediction of Toncoin, so readers are expected to make wise investment decisions and still do research independently.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.