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The Toncoin price skyrocketed over 12% in the last 24 hours to trade at $6.80 as of 1:00 a.m. EST as investors rush to buy the altcoin.
TON’s recent price surge has also propelled its Total Value Locked (TVL) to a new all-time high of $148 million. This marks a nearly threefold increase in TVL in just the past month, according to data from DefiLlama.
The Toncoin Price Overcomes A Negative Trend Line
4-hour chart for TON/USDT (Source: TradingView)
The Toncoin price was able to break above a short-term descending trend line that has emerged on its 4-hour chart, and is now attempting a challenge at the $6.683 resistance level. If the crypto manages to close a 4-hour candle above this threshold within the next 12 hours, TON might have the foundation needed to overcome the $7.726 resistance level in the following 24 hours.
On the other hand, a rejection by the $6.683 mark in the next 12 hours could invalidate the bullish thesis. In this alternative scenario, the Toncoin price might be at risk of testing the $5.675 support. Not only will this place it back under the aforementioned negative trend line, it could also expose TON to the risk of plummeting to $4.641 in the short term.
The Toncoin Price Might Keep Rising After Two Major Technical Flags Get Triggered
Technical indicators on TON’s 4-hour chart suggest the Toncoin price might keep climbing in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators point to a continued rise for TON. This comes after both of the indicators triggering major bullish technical flags over the past 24 hours.
During the last day of trading, the MACD line crossed above the MACD Signal line. Traders usually identify this technical occurrence as a sign that a crypto has entered into a positive trend. With the MACD line breaking away above the MACD Signal line, it seems that this bullish momentum is also growing stronger.
Meanwhile, the RSI broke above its Simple Moving Average (SMA) line in the last 24 hours as well. This suggests that bulls have gained the upper hand against bears, while the increasing gap between the two lines could signal that buyers are still building their lead.
While the Toncoin price enters a fresh bullish trend, 5thScape has remained on an unstoppable streak and recently surpassed the $5 million mark with its ongoing presale.
Merging Tokenization With Virtual Reality
The 5thScape team believes that tokenization will play a major role in the future of AR/VR, and is looking to be a pioneer in these two emerging industries. At the core of this vision is 5thScape’s native 5SCAPE token.
The early scenes of cage conquest are here. Come take a look. 👊🏼🎮#cageconquest #5thScape #vrgaming #VR #gamelaunch pic.twitter.com/QbFrLyWPOM
— 5th Scape (@5th_scape) April 17, 2024
By holding 5SCAPE, users will be able to earn rewards by locking up their holdings in 5thScape’s dynamic staking pool. The pool is partly funded by player subscriptions and the paid participation in virtual experiences. This means that investors who stake their tokens stand to earn greater rewards as more people join the 5thScape platform .
In addition to offering investors access to a dynamic staking pool, 5SCAPE will serve as a utility token within the 5thScape ecosystem. Gamers will be able to enjoy a seamless transactional experience as they unlock a variety of products and services. This includes the ability to purchase and trade in-game assets, as well as gain access to premium content.
To ensure the continuous development of the 5thScape ecosystem, developers who build games for 5thScape will be compensated in 5SCAPE tokens. Game builders will also be able to earn additional tokens by participating in 5thScape’s Development center.
Investors Are Betting Big On 5thScape
5thScape has raised over $5.3 million within just the first 5 phases of its presale.
With 5SCAPE set to list at $0.01, buying now at $0.00327 means locking in gains of almost 206% before listing.
5SCAPE can be purchased here using ETH, MATIC, BNB, USDT or a bank card.
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