Toncoin (TON) has gained significant momentum, breaching the 100-day Simple Moving Average (SMA) on the 4-hour chart. This bullish signal points to increased buying interest, potentially driving TON towards the $7.6 resistance level.
Currently, TON trades around $6.50, a 3.55% increase with a market capitalization exceeding $16 billion. Over the past 24 hours, the asset’s market cap rose by 3%, and trading volume surged by 36%.
The bullish movement is evident as the Relative Strength Index (RSI) approaches 70%, indicating heightened buying pressure. On the 1-day chart, bullish momentum persists below the 100-day SMA, aiming for the $7.6 resistance point.
If TON surpasses $7.6, it may test its all-time high of $8.30 and potentially establish a new peak. Conversely, failure at $7.6 could see a decline towards $4.6 or even $3.3 support levels.
