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The Toncoin price is down more than 18% over the past week after a 4% loss in the past 24 hours to trade at $4.57 as of 11:38 p.m. EST.
During the past trading session, the crypto fell from an intraday high of $4.83. Trading volumes for the altcoin also plunged more than 10%, and stand at around $310 million.
The Toncoin Price Is At A Critical Point
4-hour chart for TON/USDT (Source: TradingView)
The Toncoin price is resting on the critical support level at $4.543. Should it drop below this technical safety net in the next 12 hours, the altcoin could be at risk of plunging to the subsequent mark at $3.997 in the short term.
However, TON maintaining a position above the $4.543 support for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, traders will likely identify the crypto’s current levels as a long opportunity. This potential buy pressure could then lead to the Toncoin price flipping the $4.996 resistance level into support. Thereafter, TON might rise to $5.417.
Technicals Suggest The Toncoin Price Is Still At Risk, But Sellers Are Losing Their Strength
From a technical perspective, bulls seem to be clawing back strength against bears. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on the 4-hour chart are showing signs of diminishing seller power.
Over the past couple of hours, the MACD line has started to close in on the MACD Signal line. This could be an early indication of TON’s negative trend coming to an end. An intersection between the MACD and MACD Signal lines might confirm this.
The RSI line has also been rising towards its Simple Moving Average (SMA) line on the 4-hour chart. With the current RSI reading below 30, traders could soon identify the oversold Toncoin price as a good buy opportunity. Should the RSI cross above the SMA line in the coming 24 hours, it will signal that buyers have gained an upper hand against sellers.
While the Toncoin price remains at risk of continuing its descent in the short term, investors are flocking to a new meme coin by the name of Crypto All-Stars (STARS).
A New And Improved Staking Experience Coming To The Meme Coin Space
Crypto All-Stars (STARS) aims to introduce a unified staking experience to the flourishing meme coin space. Traditionally, projects only allow for the staking of their native crypto token. However, Crypto All-Stars enables investors to stake their holdings in several meme coins all through one platform called the MemeVault.
Popular meme coins such as Dogecoin, Shiba Inu, Pepe Coin, Floki, Brett, MogCoin, Milady Meme Coin, Toshi, Coq Inu, Bonk, and Turbo can all be locked up for passive rewards that are paid out in STARS. What’s more, investors can also stake STARS tokens to gain entry into a lucrative staking program that currently offers a 1,471% APY.
The project’s mission to revolutionize crypto staking by bringing all of the top meme coins to one platform has caught the attention of analysts and experts. Renowned YouTuber Jacob Crypto Bury analyzed the potential for Crypto All-Stars to generate substantial returns for investors in a video to his 42K subscribers.
Investors Rush To Buy STARS At ICO Prices
Crypto All-Stars is fast-approaching the $1 million mark through its ongoing presale, as investors bet big on the project’s future at this early stage. There’s still time left for anyone interested in buying this meme coin before it enters the market. A simple buy widget embedded on the project’s website allows investors to purchase the token with ease.
Selling for $0.0014248, STARS can be purchased using either ETH, USDT, BNB or bank card.
Investors won’t have to wait for the project’s launch to start earning, given the over 1,000% APY on offer to presale participants who stake their tokens. To become eligible for these rewards, the newly-purchased tokens will need to be locked up via the staking page on the website.
Potential buyers looking to get the token at the best rate will want to hurry, because the meme coin’s price is scheduled to increase during the subsequent stages of its ICO. The next price adjustment will take place in 2 days.
Purchase and stake PLAY here for the 1,471% APY before its price increases.
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