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Toncoin has made a significant 7.2% gain in the past seven days. The increase is notable as most leading cryptocurrencies have not significantly improved within the same period.
In the last 24 hours, TON has traded between $1.46 and $1.52. While the uptrend has been rejected, TON appears ready to gain more.
TON’s market capitalization is currently $5.05 billion, making it the 14th largest cryptocurrency by this metric. It has also made a 14% gain in the last month.
At the time of writing, TON was trading at $1.47. The monthly price uptick has also increased market capitalization from around $4 billion, posted earlier this month, to the current $5 billion.
Toncoin Gains As It Eyes $1.51
Toncoin is exhibiting a bullish sentiment following the trend posted last month. TON’s trading volumes have increased by around 3% in the previous 24 hours to $25 million.
The uptick in trading volumes shows increased interest in TON.
TON traded at $1.18 on August 1 and has since been on a gradual uptrend. By mid-August, the price had increased to $1.48.
The gains posted in the last 24 hours have seen TON rally to a new monthly high of $1.51. If the token sustains this trend, more improvements could be coming.
If bulls continue being behind TON’s uptrend, the Coin will likely return to the levels reported in early June.
The broader market has consolidated, allowing TON to make an independent rally. However, a downtrend in other crypto prices could trigger another decline, as seen on August 17.
TON witnessed a sharp decline on August 18 as the broader market crashed. By August 19, the price had dropped to $1.27.
TON Shows Signs Of Reversal
Despite the recent uptrend, TON is showing signs of a reversal.
The current price presents a sell opportunity for traders wanting to profit. The price movement has now made a triple top, and a downtrend could be coming.
Going by the previous price movement, it is likely that TON will plunge from the current $1.52 to $1.38, as seen in the chart above.
The downtrend will be confirmed by a reversal in the Relative Strength Index (RSI), which currently sits at 66, indicating buyers are in control.
First Set Of Developers Access TON Space Wallet
Wallet, a TON-based application on Telegram, has announced the release of the TON Space self-custody wallet. The wallet allows users to have complete control of their digital assets.
🔥 TON Space is now available for the first group of developers!
Participants can explore @ton_blockchain capabilities with support of #TON, jettons and much more.
Full release is expected to be available to all @wallet_tg users by the end of Q3. pic.twitter.com/guOAeZq84A
— Wallet in Telegram (@wallet_tg) August 22, 2023
The wallet, TON Space, has been launched for the first set of developers to access it on the Ton blockchain.
The full release for the wallet by the end of Q3 2023 will make it available to all and possibly positively affect TON’s price.
yPredict Presale Raises $3.6M As Next Price Increase Nears
The yPredict presale has now raised $3.62 million at the current price of $0.1. The price is set to increase to $0.11 after reaching $4,582,551.25.
Early investors in the YPRED presale can make significant returns as the listing price is $0.12.
yPredict is an “All-in-One” ecosystem built for developers, analysts, and traders.
The platform offers real-time trading signals that will improve trading activities.
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