Tuesday, February 7, 2023
    HomeMarketWill Toncoin hit the $2.5 resistance mark after rallying by 8% today?

    Will Toncoin hit the $2.5 resistance mark after rallying by 8% today?


    • Toncoin is one of the best performer amongst the highest 100 cryptocurrencies by market cap right this moment.

    • TON surpassed the $2 psychological stage earlier right this moment and will rally increased.

    • The broader cryptocurrency market is having a poor begin to the week.

    TON rallies regardless of the market’s poor begin to the week

    TON, the native token of the Toncoin blockchain, is presently one of the best performer amongst the highest 100 cryptocurrencies by market cap right this moment. The coin is up by 8%  to date right this moment and will rally increased over the following few hours.

    At press time, the price of Toncoin stands at $2.0744 per coin. There isn’t any obvious catalyst behind this newest rally, because the broader cryptocurrency market has been underperforming over the previous few hours.

    The whole crypto market cap stands at $844 billion, down by 1.4% within the final 24 hours. Bitcoin is down by greater than 1% and has dropped beneath the $17k stage as soon as once more.

    Ether, the second-largest cryptocurrency by market cap, has additionally misplaced greater than 1% of its worth to date right this moment. At press time, the price of Ethereum stands at $1,250 per coin.

    Key ranges to look at

    The TON/USDT 4-hour chart is bullish, as Toncoin has been performing properly over the previous few days. TON is up by roughly 14% within the final seven days regardless of the broader crypto market’s poor efficiency.

    The MACD line is throughout the constructive zone, indicating that the bulls are answerable for the TON market in the mean time. The 14-day RSI of 71 additionally signifies that TON may enter the overbought area if the rally continues. 

    If the rally continues, TON may hit the $2.5 resistance stage for the primary time in months. Nonetheless, it will want the help of the broader crypto market to take action. 

    The broader crypto market is presently bearish, and that would have an effect on TON’s efficiency within the close to time period. TON may dip beneath the $2 help stage over the following few hours if that occurs. 

    The place to purchase Toncoin now

    As TON is such a brand new asset, it is but to be listed on main exchanges. You’ll be able to nonetheless buy TON utilizing a DEX (decentralised trade) although, which simply means there are a couple of additional steps. To purchase TON proper now, observe these steps:

    1. Purchase ETH on a regulated trade or dealer, like eToro ›

    We advise eToro as a result of it is one of many world’s main multi-asset buying and selling platforms, an trade and pockets all-in-one with a number of the lowest charges within the trade. It is also beginner-friendly, and has extra cost strategies out there to customers than every other out there service.

    2. Ship your ETH to a suitable pockets like Belief Pockets or MetaMask

    You may must create your pockets, seize your deal with, and ship your cash there.

    3. Join your pockets to the 1Inch DEX

    Head to 1Inch, and ‘join’ your pockets to it.

    4. Now you can swap your ETH for TON

    Now that you just’re related, you can swap for 100s of cash together with TON.

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