- TON is currently trading at $1.83 after a 20.77% increase in price.
- Toncoin managed to strengthen against BTC and ETH.
- There is still some bullish momentum for TON.
Toncoin (TON) has been outperforming most of the major cryptocurrencies. Although the crypto market is underperforming, TON was able to see a price increase of more than 40% over the last seven days.
According to data from the crypto market tracking website CoinMarketCap, TON is currently trading at $1.83 after a decent 20.77% increase in price over the last 24 hours. The crypto reached a low of $1.50 and a high of $1.92 over the same time period.
In addition to this, TON was also able to strengthen against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH) by about 12.45% and 4.68% respectively. TON’s 24-hour trading volume is also turning heads as it is currently up over 200% to stand at $37,477,217
TON is the 30th biggest cryptocurrency in terms of market capitalization with a market cap of $2,219,766,213. This places the altcoin right behind Algorand (ALGO) in the 29th position and in front of Bitcoin Cash (BCH) in the 31st position.
TONCOIN/USD daily chart Source: CoinMarketCap
Looking at the daily chart for TONCOIN/USD, the price of the coin has retraced slightly after reaching the resistance level at $2.00. There is still some bullish momentum present given the fact that the 9 EMA line is positioned above the longer 20 EMA line.
However, the daily RSI line is sloped towards the oversold territory, which is a bearish flag that investors need to keep into account when entering any long positions on TON in the next two to three days.
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