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Toncoin (TON) price is trading with a bearish bias as the market continues slowly falling. It follows on the heels of Bitcoin (BTC) and Ethereum (ETH).
GM!
The market continues to fall slowly:
🔴 Bitcoin costs $26,806;
🔴 Ethereum dropped to $1,540,
🔴 Toncoin lost the most — now it costs $1,9325.
Red is the hit of the season. pic.twitter.com/L0XlyJ87YZ
— itez (@itezofficial) October 13, 2023
However, the token continues to trend amid post-launch momentum with a 24-hour trading volume increase of around 60%, CoinMarketCap data shows.
Meanwhile, the TON community continues enjoying a new ecosystem development. Based on a recent announcement, South Korean exchange Coinone has lined up among the platforms listing TON. As of October 12, the token went live on the exchange against the Korean Won (TON/KRW).
Coinone, Toncoin'i (TON) listeliyor!
Coinone, Toncoin'i (TON) listeleyen ilk Güney Kore borsası olacak ve 12 Ekim 2023'ten itibaren TON/KRW (Kore Wonu) işlem çiftini kullanıma sunacaktır.#TON #TON_Blockchain #BuildOnTON #defi #web3 #crypto pic.twitter.com/DrYK4d3Gmg
— TON Society Türkiye (@TONTurkey) October 13, 2023
Nevertheless, the Toncoin price remains on an uptrend from a big-picture perspective, confronting a stiff resistance at $2.60. Notably, this is not the first time this supplier congestion level is capping the upside potential for TON. On January 28, the Toncoin price was rejected from the same level.
Toncoin Price With TON Barely Holding Above A Bullish Support Level
After facing rejection from the $2.60 hurdle, Toncoin price is now offering investors a solid swing entry with a 30% upside potential back to the crucial barricade.
Meanwhile, momentum remains bearish, with the Relative Strength Index (RSI) below the 50 level. The Awesome Oscillator (AO) indicator corroborates this outlook, recording red histogram bars while spanning the negative territory.
Increased selling pressure could see the Toncoin price lose the support offered by the 50-day Exponential Moving Average (EMA) at $1.95. A break and close below this level would see TON lose the support offered by the ascending trendline, thereby invalidating the bullish outlook.
An extended fall could see Toncoin price test the 200-day Simple Moving Average (SMA) at $1.77, or worse, extend to the crucial $1.60 support level. In the dire case, TON could move to test the swing low at $1.17. Such a move would constitute a 40% fall below current levels.
Conversely, if sidelined investors looking to capitalize on the potential 30% upswing and use the $1.95 support as an entry point, Toncoin price could pull north, shattering the immediate hurdle at $2.07. In highly bullish cases, the desirable 30% recovery could manifest, sending TON to a valuation of $2.60. Overly ambitious cases could steer the altcoin to the $3.00 psychological level. This would constitute a run of approximately 55% above the current level.
Meanwhile, other investors are considering TGC as a promising alternative, and you should consider it, too. Among its key selling points is the 10X staking rewards.
Toncoin Alternative
TGC has merited Crypto Zeus’ list of the next big crypto to explode. It is the native token for the TG.Casino ecosystem, a new project offering an exclusive place for online, anonymous crypto gambling. To be clear, the website indicates that it is fully licensed and 100% safe. This assurance is among the reasons its presale sales are going so well. Barely a month out, the project has already raised $869,303, representing almost 87% of the soft cap target of $1 million. Join the presale today.
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Interestingly, the project has a buyback program running, intended to reduce the circulating supply of the token. This gives TGC a chance to increase in value. This also works as an incentive so you can play with TGC tokens and be rewarded for it. Noteworthy, this buyback applies for all losses when betting $TGC token.
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Buy TGC now at the current presale rate of $0.125, as there will never be another opportunity to get them at such an affordable rate. The tokenomics are also straightforward, with 20% going to the liquidity pool to create the pair in decentralized exchanges. Another 20% goes towards staking rewards for the dedicated community members. Further, 40% is allocated to the presale, and 10% goes to player rewards. The remaining 10% is split equally between the project’s affiliates and for marketing purposes. Get full details about tokenomics from the TG.Casino website here.
Always time for a quick play. 🎰 pic.twitter.com/PLRJS44KeE
— TG Casino (@TGCasino_) October 3, 2023
By investing in TG.Casino, you have a chance to grow your income passively. By holding TGC tokens, your investment grows in value as the presale continues. On a higher note, the staking function allows you to earn Annual Percentage Yields (APY) or returns as high as 582.2%.
Also Read:
- Top Telegram Crypto Casino, TG.Casino, Reveals $TGC Integration and Weekly 25% Cashback; Presale Nears $800,000 Mark
- Next Big Crypto to Explode Reviewed by Crypto Zeus – TG.Casino (TGC) Presale
- Casino’s Presale Surges: Grab $TGC Before the Boom!
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