TON Price Surges Back With Increased Buying Pressure; Will It Sustain?

TON Price Surges, Leading Crypto Recovery

After a significant drop in crypto market capitalization, the market has rebounded slightly, rising nearly 4% within 24 hours to $2.06 trillion. While bearish sentiment persists, several cryptocurrencies have regained value. Notably, TON has surged to $7.53 after a drop to $6.4568, sparking the market recovery.

TON Price Performance Analysis

Toncoin reached an all-time high of $8.24 in June. Despite a recent dip, the coin has gained 225% this year, surpassing Dogecoin in market position. The drop occurred shortly after TON reached $8.0847.

However, TON has rebounded, reaching $7.53 after a 14% surge within 24 hours. This surge indicates high market demand and is consistent with its year-to-date growth.

Will TON Price Continue to Rise?

TON price has risen steadily, but trading activity has decreased. The 24-hour trading volume has declined, suggesting reduced network activity.

Technical indicators, such as moving averages and momentum, indicate buyer dominance. However, neutral indicators, like the Relative Strength Index, suggest that bears are also present. The MACD level indicates a potential reversal or bull pack.

Price charts show TON approaching resistance at $8.156015071. A surge above this level could continue the uptrend. Conversely, a drop below $7.396622094 could lead to further decline.