{"id":634877,"date":"2024-08-12T12:30:38","date_gmt":"2024-08-12T12:30:38","guid":{"rendered":"https:\/\/wncen.com\/?p=634877"},"modified":"2024-08-12T10:16:04","modified_gmt":"2024-08-12T10:16:04","slug":"toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown","status":"publish","type":"post","link":"https:\/\/wncen.com\/toncoin-ton\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\/","title":{"rendered":"Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?"},"content":{"rendered":"

Toncoin’s recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level. After showing promising signs of a rally, TON faced increased selling <\/span>pressure<\/span><\/a>, forcing it to retreat to this key support zone. The question here is, Can the bulls defend this level and prevent a deeper bearish breakdown, or is Toncoin poised for a further decline as bearish sentiment grows?<\/span><\/p>\n

Addressing this subject, this article seeks to provide a detailed analysis of Toncoin’s recent price action, focusing on the sudden halt in its bullish<\/a> momentum and its retreat to the critical $6 support level.\u00a0 Additionally, it will assess what to watch for in Toncoin’s price movements and anticipate its next moves.<\/span><\/p>\n

Toncoin<\/span><\/a> has dropped by 5.19%, currently trading around $6.27 over the past 24 hours. Its market capitalization stands at over $15 billion, with a trading volume exceeding $373 million at the time of writing. TON’s market cap has decreased by 5.21%, while its trading volume has surged by 43.65%<\/span><\/p>\n

The $6 Battleground: Will Bulls Stand Strong?<\/strong><\/h2>\n

Currently, the price of TON on the 4-hour chart is demonstrating a bullish comeback after hitting the $6 mark and is attempting to move above the 100-day Simple Moving Average (SMA) toward the $6.7 mark.\u00a0<\/span>This, therefore, suggests that the\u00a0<\/span>bulls<\/a> are gradually gaining strength over the bears and could further drive the price higher.<\/span><\/p>\n

\"Toncoin\"
Bullish comeback for TON Source: TONUSDT on Tradingview.com<\/figcaption><\/figure>\n

Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator after a successful drop below 50%, is currently rising again toward it, suggesting that buying pressure is increasing and the asset might experience further upward movement.<\/span><\/p>\n

On the 1-day chart, although Toncoin is still trading below the 100-day SMA, the price is currently attempting an upward move toward the $6.7 resistance level after a bullish rejection at $6, which means that the bulls are currently gaining control<\/a> and could potentially push the price higher.<\/span><\/p>\n

\"Toncoin\"
Toncoin targeting the $6.7 level | Source: TONUSDT on Tradingview.com<\/figcaption><\/figure>\n

Finally, on the 1-day chart, the RSI signal line is attempting a climb<\/a> above 50% from the oversold zone, indicating growing bullish <\/span>momentum<\/span><\/a> for the cryptocurrency.<\/span><\/p>\n

Bullish Defense Or Bearish Takeover: What\u2019s Next For Toncoin?<\/strong><\/h2>\n

Recent trading activities show that Toncoin has demonstrated bullish defense at the $6 mark and is currently attempting to move toward the $6.7 resistance level. If the crypto asset reaches this level and breaks above, it could lead to a further bearish move toward the next resistance level at $7.7 and possibly other levels beyond.<\/span><\/p>\n

However, if there is a bearish takeover and TON’s price breaks below the $6 mark, the <\/span>cryptocurrency<\/span><\/a> may continue to decline toward the $4.6 support mark. Should the price fall below this support, it could drop further to test the $3.3 support level and continue to lower support ranges on the chart if the $3.3 price target is breached.<\/span><\/p>\n

\"Toncoin\"
TON trading at $6.3 on the 1D chart | Source: TONUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Adobe Stock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Toncoin’s recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level. After showing promising signs of a rally, TON faced increased selling pressure, forcing it to retreat to this key support zone. The question here is, Can the bulls defend this level and prevent a deeper bearish breakdown, or is Toncoin poised for a further decline as bearish sentiment grows? Addressing this subject, this article seeks to provide a detailed analysis of Toncoin’s recent price action, focusing on the sudden halt in its bullish momentum and its retreat to the critical $6 support level.\u00a0 Additionally, it will assess what to watch for in Toncoin’s price movements and anticipate its next moves. Toncoin has dropped by 5.19%, currently trading around $6.27 over the past 24 hours. Its market capitalization stands at over $15 billion, with a trading volume exceeding $373 million at the time of writing. TON’s market cap has decreased by 5.21%, while its trading volume has surged by 43.65% The $6 Battleground: Will Bulls Stand Strong? Currently, the price of TON on the 4-hour chart is demonstrating a bullish comeback after hitting the $6 mark and is attempting to move above the 100-day Simple Moving Average (SMA) toward the $6.7 mark.\u00a0This, therefore, suggests that the\u00a0bulls are gradually gaining strength over the bears and could further drive the price higher. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator after a successful drop below 50%, is currently rising again toward it, suggesting that buying pressure is increasing and the asset might experience further upward movement. On the 1-day chart, although Toncoin is still trading below the 100-day SMA, the price is currently attempting an upward move toward the $6.7 resistance level after a bullish rejection at $6, which means that the bulls are currently gaining control and could potentially push the price higher. Finally, on the 1-day chart, the RSI signal line is attempting a climb above 50% from the oversold zone, indicating growing bullish momentum for the cryptocurrency. Bullish Defense Or Bearish Takeover: What\u2019s Next For Toncoin? Recent trading activities show that Toncoin has demonstrated bullish defense at the $6 mark and is currently attempting to move toward the $6.7 resistance level. If the crypto asset reaches this level and breaks above, it could lead to a further bearish move toward the next resistance level at $7.7 and possibly other levels beyond. However, if there is a bearish takeover and TON’s price breaks below the $6 mark, the cryptocurrency may continue to decline toward the $4.6 support mark. Should the price fall below this support, it could drop further to test the $3.3 support level and continue to lower support ranges on the chart if the $3.3 price target is breached. Featured image from Adobe Stock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":634878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87314],"tags":[16393,14763,91599,85676,12143,87713,79564,88282],"class_list":["post-634877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-toncoin-ton","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma","tag-ton","tag-toncoin","tag-tonusd","tag-tonusdt"],"acf":[],"yoast_head":"\nToncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?<\/title>\n<meta name=\"description\" content=\"Toncoin recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?","url":"http:\/\/wncen.com\/toncoin-ton\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/toncoin-ton\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Toncoin-from-Adobe-Stock.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Toncoin-from-Adobe-Stock.jpg?fit=639%2C360"},"articleSection":"Toncoin (TON)","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["relative strength index","rsi","simple moving average","sma","ton","toncoin","tonusd","tonusdt"],"dateCreated":"2024-08-12T12:30:38Z","datePublished":"2024-08-12T12:30:38Z","dateModified":"2024-08-12T12:30:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?\",\"url\":\"http:\\\/\\\/wncen.com\\\/toncoin-ton\\\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/toncoin-ton\\\/toncoin-rally-thwarted-as-ton-slips-to-6-can-bulls-prevent-a-bearish-breakdown\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Toncoin-from-Adobe-Stock.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Toncoin-from-Adobe-Stock.jpg?fit=639%2C360\"},\"articleSection\":\"Toncoin (TON)\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\",\"ton\",\"toncoin\",\"tonusd\",\"tonusdt\"],\"dateCreated\":\"2024-08-12T12:30:38Z\",\"datePublished\":\"2024-08-12T12:30:38Z\",\"dateModified\":\"2024-08-12T12:30:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Toncoin-from-Adobe-Stock.jpg?fit=639%2C360","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634877"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=634877"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/634878"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=634877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=634877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=634877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}