TON Price Prediction: Can the Asset Protect Investors From the Market Downturn?

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Toncoin (TON) appears to be one of the best-performing coins in the crypto market heading into this week, which is great given that most coins are currently experiencing a downtrend.

Amidst continuing regulatory pressure and record-level difficulty for Bitcoin miners, coin prices have dropped significantly as the month enters its third week. Nevertheless, there is a lot of excitement over TON, and investors would be looking to see whether it can deliver the stable gains they need.

TON Stays Ahead of the Market

The crypto market is starting the week on a weak note, with investor confidence declining again as coin prices drop after weeks of gains.

The entire crypto market cap is currently down to just $1.01 trillion. It would be desirable for investors to see the market maintain its lead over the trillion-dollar mark, but anything is possible at this point. Major coins are also trading down, with many of them now testing resistance levels that they had left behind weeks ago.

However, TON is balking against this trend. The crypto asset currently trades at $2.30, which indicates an uptrend of 3.68% in the past 24 hours. Additionally, TON is now among the 25 most valuable cryptocurrencies in the market, an impressive milestone for an asset less than 18 months old.

With its price gain, TON is currently showing some impressive technical strength. The asset currently trades above all its moving average (MA) indicators, ranging from the 10-day MA of $2.309 to the 200-day MA of $1.549. The short-term MA metrics are threatening to reach its price, but a sustained rally from TON should keep these indicators at bay.

Surprisingly, TON has a negative moving average convergence divergence (MACD). This shows a sell signal, and with the relative strength index (RSI) of 52.09 now rising, the asset still appears to be approaching the overbought region.

Investor Interest Fuels TON Rally

Toncoin is a decentralized layer-1 blockchain platform developed by the popular mobile messaging platform Telegram. The project was initially abandoned but was later relaunched by the TON Foundation and renamed “The Open Network.”

The blockchain has operated since 2020, looking to provide a simple and reliable way for users to send, receive, and store money. With its proof-of-stake (PoS) model, The Open Network ensures reliability and scalability, ensuring quick and transparent payment services for all users, all facilitated by the native TON token.

So far, TON does not have much in terms of fundamentals. This implies that its recent rally could simply be due to investor interest. With the market currently in a downtrend, investors are flocking to any assets that promise them gains, even in the short term. At the moment, TON could be that coin.

TON Alternative

Investors interested in purchasing TON should consider our carefully selected best altcoins for 2023. One such coin is MEMAG, whose presale has raised over $4.30 million in less than two months.

MEMAG is the native token of the Meta Masters Guild, a new innovative play-to-earn metaverse gaming platform based on Web-3 technology. The Guild’s objective is to provide a gaming ecosystem where developers will be able to launch their games and attract players.

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All games in this ecosystem will be able to operate autonomously, although they will be required to use the Guild’s native MEMAG token in one way or the other. Meta Masters Guild will debut with three games – Meta Kart Racers, Meta Masters World, and NFT Raid.

The MEMAG presale is in its final stage, with one token selling for $0.023. Value-seeking investors should act quickly before the presale concludes.

Investors who want to participate in the presale can visit the MMG website, connect their Wallet Connect or MetaMask wallet, and buy MEMAG using either ETH or USDT.

Buy MEMAG