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The Toncoin price jsurged 13% in the past week despite a 2.5% fall in the last 24 hours to trade at $7.95 as of 7:30 p.m. EST on trading volume that slumped 49% to $430 million.
Renowned crypto analysts Altcoin Sherpa, with 217k followers on X, says of the TON chart, ”This still looks incredibly strong. $TON: just a matter of time before this breaks ATH in the next stretch as long as btc is ok.”
In fact, TON, the native token of The Open Network, a proof-of-stake blockchain, reached a new all-time high on June 15 of $8.25, according to CoinGecko.
The Open Network has experienced a surge in demand due to the popularity of TON-based games such as Tapswap, Pixelverse, and Notcoin.
Toncoin Price: Key Resistance And Support Areas To Watch
Over the past three months, Toncoin has shown a steady uptrend, supported by an ascending trendline on the daily chart. This dynamic support has enabled buyers to maintain a series of higher lows, suggesting that investors are actively accumulating the asset during market dips.
The price has now formed a bullish pennant after reaching a new all-time high of $8.25, leaving bears struggling to control the price, according to GeckoTerminal data.
However, the sentiment remains positive for Toncoin traders, who anticipate continuing the bullish trend following the pennant formation. If momentum increases, it could push the price above the key resistance point of $8.25, confirming the bull rally ahead.
TONUSD Analysis (Source: Dextools.io)
Toncoin price indicates a bounce on the lower trendline of the pennant above the 50-day simple moving average (SMA). The 200-day SMA still provides solid support, helping to maintain the bullish momentum. If Toncoin continues to rise, it could break above the 50-day SMA and surpass the upper trendline of the pennant.
Although the Relative Strength Index (RSI) was on a short-term bearish trend, it has rebounded from the oversold territory at 30, crossing the midline at 50 and reaching 63, indicating strong buying pressure. This increased buying pressure could push it back into the overbought zone.
Additionally, the green histogram bars on the Moving Average Convergence Divergence (MACD) indicator and the recent crossover of the blue average line over the orange signal line further support Toncoin’s bullish outlook.
Toncoin Price Prediction: Can The Bulls Sustain The Momentum Beyond the Pennant?
The Toncoin price is poised for a significant bull rally despite the resistance paused by the upper trendline of the pennant. Moreover, with the support of the technical indicators, traders are leveraging the bullish pennant to fuel upward momentum towards a potential new all-time high of $11.82.
However, if the bears persist in driving the price down from the upper trendline, they could apply downward pressure, pushing the price to the $6.83 support level coinciding with the 50 SMA. Continued downward pressure might result in a retracement below the lower trendline, reaching approximately $6.12 support level.
Sealana Presale Gains Momentum: Over $4 Million Raised As Launch Nears
As TON price traders anticipate a bull rally, investors are rushing to buy Sealana ($SEAL) before its presale wraps up on June 25 at 6 p.m. UTC.
The presale has already raised over $4 million in funding, nicely positioning the new meme coin SEAL and its adorable seal mascot to challenge top Solana meme coins including Dogwifhat (WIF), Bonk (BONK), and Book of Meme (BOME).
What better way to show your love of Lambos, Massive Gains & Freedom than getting a #USA tattoo to show for it! 🇺🇸 #Sealana knows what’s best for American made #Memecoins and has a plan to make them great again! 🦭
Send $SOL 💸 and let him be an example for all #Degens!💪 #MAGA pic.twitter.com/B4aBZ2wEbI
— Sealana (@Sealana_Token) June 14, 2024
Sealana is a chubby seal living in the Solana Sea, who spends all day at his computer, gaining weight as he gorges on chips and canned tuna. Obsessed with finding the next big Solana meme coin, he’s always busy, with his flippers typing away and his living room in a mess.
By adopting an American patriotism theme, Sealana is capturing the interest of the Solana community and appealing to conservative investors who typically endorse former US president Donald Trump.
Seems like @thenotoriousMMA didn’t like #Sealana asking why he was drinking whiskey at the #Roadhouse rather than fighting in the octagon…🥊 If only he knew before raising his fists that Sealana was a 300lbs ex army $SEAL…🪖🦭
It's not going to be a fair fight but no one will… pic.twitter.com/L1TqztPiAX
— Sealana (@Sealana_Token) June 10, 2024
Crypto analyst and YouTuber Cilinix Crypto, with over 63k subscribers, says Sealana is among presale meme coins he has bought this year.
With slightly more than nine days remaining until the presale ends, potential investors can still purchase SEAL tokens for $0.022.
Buy SEAL on the website here using ETH, USDT or bank card.
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