Toncoin Price Analysis: TON Price Eyes To Hit $8 Next?

Story Highlights

• Toncoin price soared 9.96% in the last seven days.
• The TON price surpassed Avalanche to become the 12th most valued crypto.
• The EMA 50/200-day hints at a potential Golden Cross, indicating a further rise.

The Toncoin price has stabilized its value above the $5 mark. This indicates a strong bullish sentiment in the crypto space. Further, with increasing bullish candles, this altcoin is anticipated to head toward its $8 mark.

If the market continues favoring the bulls in the last days of 2024, will the Ton price achieve a new ATH? In this article, we have covered the possible short-term prospects of this altcoin.

TON Price Records Increased Price Action!

With the ongoing market volatility, the Toncoin crypto has maintained its value above the $5 mark. Moreover, with a trading value of $5.63 and a market cap of $13.306 billion, it is on the path of surpassing Shiba Inu memecoin.

The EMA 50/200-day is on the verge of recording a Golden Cross in the daily time frame, highlighting a high possibility of bullish price action during the upcoming time.

Further, the Relative Strength Index (RSI) continues hovering above the neutral point with its head toward the overbought range in the TON price chart. This suggests that the price may continue gaining value this week.

How High Will TON Price Go?

If the Toncoin price maintains its bullish sentiment, this could push its value toward its resistance level of $6.415. Maintaining the price above that level could set the stage for it to head toward its upper high of $7.680 this month.

On the contrary, if the bears overpowered the bulls, this altcoin may retest its support level of $5.155. Further, if the bears dominate the crypto space, this could pull the price toward its lower support trendline of $4 during the coming weeks.

Curious to find out if this altcoin will hit $10 this crypto bull run? Read CoinPedia’s Toncoin Price Prediction, and also subscribe to us to stay updated on the latest trends!

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