Toncoin (TON) demonstrates positive dynamics despite minor declines over the last 24 hours. With increasing network activity and positive technical indicators, the cryptocurrency attracts increasing investor attention.
General Overview of Toncoin
At press time, the price of Toncoin stands at $3.56, down 1.3% compared to the previous day, but up 3.6% over the past week and 30% over the month. The price has fluctuated between $3.20 and $3.70 during the week.
On-chain Data Confirms Network Growth
Activity across the TON ecosystem has been steadily rising. Weekly trading volume on decentralized exchanges jumped from $54 million to $82 million, while chain fees increased from $98,758 to $124,112. The market cap of TON’s stablecoins grew from $600 million in mid-July to nearly $800 million at current press time.
Technical Analysis of Toncoin
From a technical perspective, TON appears bullish. The 10-day EMA and SMA serve as support around $3.45. The relative strength index stands at 67.4, close to the overbought zone. However, caution is warranted as short-term momentum may be stalling.
Despite some minor pullbacks, Toncoin shows strong growth signals both on-chain and in technical parameters. Increasing network activity and ecosystem developments may support positive trends in the near future.
