Toncoin (TON) Price Bullish Action Hints A 15% Surge To A New ATH?

Toncoin (TON) Price Surge Hints at 15% Rise to a New ATH

Amidst a stable cryptocurrency market, the Toncoin (TON) price has remained bullish, gaining significant value over the past few days. This positive sentiment suggests a potential surge towards a new all-time high (ATH) in July.

Sustained Bullish Momentum

TON has maintained a bullish price action for four consecutive days, indicating increased positive sentiment. It has jumped 2.76% within the past 24 hours, with a change of +14.96% in trading volume.

Ascending Channel Pattern and Resistance突破

Since May, TON has traded within an ascending channel pattern, signaling long-term bullishness. The recent surge has regained momentum, surpassing the critical resistance level of $7.680.

Overtaking Dogecoin's Market Cap

With a surge of 4.03% in the past seven days, TON has surpassed Dogecoin (DOGE) to become the 8th largest cryptocurrency, with a market capitalization of $19.432 billion.

Technical Indicators Support Bullish Sentiment

The Simple Moving Average (SMA) supports the TON price chart, indicating increased bullishness. The Relative Strength Index (RSI) has retested its mid-point and is trending upwards towards the overbought range, suggesting continued value gain this week.

Potential ATH and Support Levels

If the market sustains the TON price above $7.680, the bulls may gain momentum and drive the asset towards its ATH of $8.880. Maintaining this level could set the stage for a potential test of $10.

Conversely, a bear market could push TON towards its support trendline or, potentially, its low of $6.415 if the support level is broken.