{"id":455531,"date":"2023-11-08T16:53:15","date_gmt":"2023-11-08T16:53:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=455531"},"modified":"2023-11-08T16:54:17","modified_gmt":"2023-11-08T16:54:17","slug":"toncoin-price-prediction-ton-pumps-8-as-funds-flood-into-a-new-spot-bitcoin-etf-play","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/toncoin-price-prediction-ton-pumps-8-as-funds-flood-into-a-new-spot-bitcoin-etf-play","title":{"rendered":"Toncoin Price Prediction: TON Pumps 8% As Funds Flood Into A New Spot Bitcoin ETF Play"},"content":{"rendered":"

The Toncoin price jumped more than 8% over the past 24 hours to trade at $2.65 as of 9:20 am EST as investors scramble to ride the altcoin’s positive momentum.<\/span><\/p>\n

This sharp increase in the Toncoin price added to the altcoin’s positive weekly performance, pushing it deeper into the green zone with a rise of 21%. <\/span><\/p>\n

The surge in the <\/span>cryptocurency’s<\/span><\/a> price also resulted in Toncoin claiming a spot on CoinMarketCap’s top 10 list.<\/span><\/p>\n

The Toncoin Price Could Overcome A Key Resistance Level<\/span><\/h2>\n

\"TradingView<\/p>\n

Daily chart for the Toncoin price (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The Toncoin price is attempting a challenge at the $2.60 threshold. Should it close today’s trading session above this mark, then it may have a solid foundation to continue climbing.<\/span><\/p>\n

In this bullish scenario, the <\/span>Toncoin<\/span><\/a> price could rise to the subsequent resistance level at $2.9135 in the following few days. With enough pressure from buyers, the altcoin’s price could also flip this barrier into support, before potentially reaching as high as $3.2745 in the short term.<\/span><\/p>\n

This bullish thesis could be invalidated if the Toncoin price closes today’s daily candle below $2.60 – exposing it to the risk of dropping to the next key support level. <\/span><\/p>\n

Traders may begin to cash out their profits from Toncoin’s latest <\/span>rally<\/span><\/a> if it fails to close above $2.60 today. The potential sell pressure could then force the Toncoin price to as low as $2.3265 through the course of the following week.<\/span><\/p>\n

Toncoin Price: Likely To Continue Its Climb<\/span><\/h3>\n

Technical indicators on the altcoin’s chart did, however, favor a positive short-term outlook. Firstly, the daily Moving Average Convergence Divergence (MACD) line was breaking bullishly away above the MACD Signal line. This suggested that the Toncoin price may continue to rise in the next 24-48 hours given the high probability that its positive trend could continue. <\/span><\/p>\n

Another indicator that <\/span>traders<\/span><\/a> and investors will want to take note of is the daily Relative Strength Index (RSI). With the RSI on Toncoin’s daily chart approaching overbought territory, the cryptocurrency’s value may continue to rise in the next couple of days before undergoing a slight correction. <\/span><\/p>\n

This potential pull back in the Toncoin price may only take place after the next 48 hours, however, as the positive slope of the RSI line signals that bulls still hold the reins.<\/span><\/p>\n

As traders look for clues as to which direction the Toncoin price will move in the next few days, capital is flowing into <\/span>Bitcoin ETF Token<\/span><\/a> through its presale.<\/span><\/p>\n

Rewards Amplified by the Pending Approval Of A Spot Bitcoin ETF<\/span><\/h2>\n

Bitcoin ETF Token<\/span><\/a> is the first project to enter the market that rewards its holders as Bitcoin ETFs (exchange-traded funds) gain traction in the cryptocurrency space. Holders also have access to lucrative staking rewards through the project’s native token, BTCETF.<\/span><\/p>\n

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Introducing #BitcoinETF<\/a>, the visionary project poised to revolutionise the #Crypto<\/a> realm by anticipating the arrival of #Bitcoin<\/a> ETFs. 🚀<\/p>\n

Stay tuned for the unveiling of the distinctive mechanics and strategies that set #BTCETF<\/a> apart in the world of digital assets. 📄💡 pic.twitter.com\/7CBWhJlErg<\/a><\/p>\n

— BTCETF_Token (@BTCETF_Token) November 1, 2023<\/a><\/p><\/blockquote>\n