Amid the ongoing market turmoil, the Toncoin price has continued to lose value this year. This indicates a strong bearish sentiment for the altcoin in the crypto space.
TON Price Consolidation
The Toncoin price has dropped by 3.23% in 24 hours with a trading volume of $127.78 million. Moreover, it has plunged 28.33% over the past month and has a Year-to-Date (YTD) return of -32.43%. With a market cap of $9.275 billion, it ranks 16th. The MACD suggests a potential positive shift in sentiment with signs of positive action this week. The SMA indicator shows similar trends on a daily timeframe, indicating a possibility of value gain for the token going forward.
Will Toncoin Hit $5?
If a bullish sentiment returns, Toncoin could regain its value towards the resistance level of $4.035. Maintaining the price above this level could pave the way for reaching an upper high of $6.415. However, if bearish sentiment persists, the coin may test the support at $2.960, possibly declining to a lower boundary of $2.
FAQs About Toncoin
- **Is Toncoin a good investment?** If bulls regain dominance, the TON coin price may reach a maximum value of $16.65 this year. - **Will Toncoin reach $100?** Given current market sentiments, achieving this level is highly unlikely. - **How much is 1 Toncoin?** As of now, Toncoin is priced at $3.728 with a 24-hour trading volume of $127.781 million.
Considering the current trends in the cryptocurrency market, Toncoin is facing challenges. However, potential shifts in investor sentiment could change this outlook.
