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The Toncoin price surged 11% in the last 24 hours to trade at $3.36 as of 9:36 p.m. EST as traders go long on the crypto.
The rise in the TON price comes after The Open Network Foundation (TON Foundation) appointed former Visa executive Nikola Plecas as its new vice president of payments.
Toncoin Price Trying To Flip A Resistance Level Into Support
Daily chart for TON/USD (Source: GeckoTerminal)
The Toncoin price is attempting to overcome a resistance level at $3.3003, according to data from GeckoTerminal. Should the altcoin clear this barrier, it could then rise to the next major mark at $3.7289 and potentially as high as $4.2205 in the short term if the bullish pressure persists.
However, a rejection from the $3.3003 resistance within the next 24-48 hours could result in a more bearish scenario playing out. Traders might start to short TON as a result, which could push the Toncoin price down to the $2.8339 support.
Technicals Suggest The Toncoin Price Could Keep Rising
From a technical point of view, indicators on TON’s daily chart suggest the Toncoin price might continue to climb in the next 24 hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) showing bullish signs.
That’s after the MACD line crossed above the MACD Signal line in the last couple of days to trigger a major bullish technical flag. Now, with the MACD line breaking away above the Signal line, it appears TON’s bullish momentum is picking up steam.
Buyers also currently have the upper hand over sellers, as evident by the current RSI reading above the neutral 50 mark. The positive slope of the RSI line also suggests bulls are still gaining strength against bears.
If the bullish technical signs presented by the MACD and RSI on the daily chart influence traders’ decision making, then the Toncoin price could soon attempt a challenge at the $3.7289 resistance.
While the Toncoin price tries to keep rising, investors are also buying into a new presale token called Snorter Token (SNORT). According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, the new project has the potential to capture “a massive share of the meme coin market.”
A New Trading Bot That Sniffs Out Crypto Gems For Users
Snorter Token is a new crypto trading bot project. It is built to find new gems in the crypto market on decentralized platforms that are still in their early stages, while protecting users from honeypot scams and rugpulls. The bot digs through market data and then serves up real-time insights and convenient trading features through the popular messaging app, Telegram.
Built with cutting-edge technology, Snorter Token’s bot is the fastest trading bot on the Solana blockchain, and will expand to other networks in the future as well.
Unlike other trading bots such as BONKbot, Maestro, Cryptohopper, Trojan Bot, Gunbot and others, the Snorter bot can achieve sub-second swaps, allowing users to capitalize on opportunities almost as soon as they emerge. It also comes with automated sniping functionality, allowing users to snipe new tokens with minimal effort and built-in tax handling.
Snorter Token’s bot beats all of its competition in terms of fees as well, with fees as low as 0.85%.
Investors Rush To Get Access To SNORT’s High Staking Rewards
Snorter Token’s presale has already raised over $142K after going live just yesterday, signaling strong demand for what the project has to offer. In addition to the project’s handy bot, high staking rewards might be another reason investors are rushing into SNORT’s presale at thie early stage. Anyone that buys and stakes SNORT now will unlock a 2,008% APY.
To get in on the attractive rewards, investors will first need to acquire some SNORT tokens through the simple buy widget embedded on the project’s website. Currently selling for $0.0935, SNORT can be bought with either crypto or bank card.
After purchasing some SNORT, investors can then lock up their tokens on the staking page on the website to start earning the crypto rewards.
Anyone looking to buy will want to act fast, because SNORT’s price will undergo a series of presale increases as the ICO progresses. The next presale price hike is scheduled for around 31 hours.
Check out Snorter Token on its official website.
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