Join our Telegram channel to stay up to date on breaking news coverage
Toncoin price is up over 8% in the last 24 hours to trade at $2.65 at 9:20 am EST as investors scramble to take advantage of the altcoin’s positive momentum.
This sharp rise in Toncoin price added to the altcoin’s positive weekly performance, pushing it further into the green zone with a 21% increase.
The increase in the cryptocurrency The price also saw Toncoin claim a spot on CoinMarketCap’s top 10 list.
Toncoin Price Could Break A Key Resistance Level
Toncoin daily price chart (Source: TradingView)
Toncoin price is trying to challenge the $2.60 threshold. If it closes today’s session above this mark, then it could have a solid foundation to continue rising.
In this bullish scenario, the toncoin The price could rise to the next resistance level of $2.9135 in the coming days. With enough pressure from buyers, the altcoin price could also turn this barrier into support, before potentially reaching $3.2745 in the near term.
This bullish thesis could be invalidated if Toncoin price closes today’s daily candle below $2.60, exposing it to the risk of falling to the next key support level.
Traders can start withdrawing their profits from the latest Toncoin release. tech/2023/11/07/new-cryptocurrencies-getting-created-at-slowest-pace-in-3-years-data-shows/?_gl=1*i9qeqf*_up*MQ..*_ga*MTk2NTczOTgxMy4xNjk5NDU1ODI4*_ga_VM3STRYVN8*MTY5OTQ1NTgyNy4xLjAuMTY5OTQ1NTgyNy4wLjAuMA..”>meeting if it fails to close above $2.60 today. Potential selling pressure could force Toncoin price down to $2.3265 over the course of the following week.
Toncoin Price: Likely to Continue Ascent
However, technical indicators on the altcoin’s chart favored a positive near-term outlook. Firstly, the daily Moving Average Convergence Divergence (MACD) line was bullishly breaking above the MACD signal line. This suggested that Toncoin price may continue to rise in the next 24 to 48 hours given the high probability of its positive trend continuing.
Another indicator that merchants and investors will want to take note of 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 coming days before undergoing a slight correction.
However, this possible pullback in Toncoin price can only occur after the next 48 hours as the positive slope of the RSI line indicates that the bulls still have the reins.
As traders look for clues as to which direction Toncoin price will move in the coming days, capital flows into bitcoin ETF Token through its pre-sale.
Rewards Amplified by Pending Approval of a bitcoin Spot ETF
bitcoin ETF Token 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.
Presenting #BitcoinETFthe visionary project prepared to revolutionize the crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto kingdom anticipating the arrival of bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF.
Stay tuned for the reveal of the distinctive mechanics and strategies that establish #BTCETF apart in the world of digital assets. pic.twitter.com/7CBWhJlErg
– BTCETF_Token (@BTCETF_Token) November 1, 2023
The Clever Link of the bitcoin ETF Token with bitcoin ETFs
Although it is not an ETF itself, bitcoin ETF Token is perfectly positioned to benefit from the evolution of the bitcoin ETF spot market. Given the variety of spot bitcoin ETFs introduced by numerous reputable asset managers that are pending approval, a significant capital injection is expected to hit the market soon.
The long-awaited launch of a spot bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin #ETF by @BlackRock could remodel the crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto market, attracting institutional capital and causing a new market cycle.
How do you foresee this ETF influencing the dynamics of the #CryptoCurrency market as a whole?
– BTCETF_Token (@BTCETF_Token) November 7, 2023
Once the first bitcoin spot ETF is approved, a tsunami of liquidity is likely to send market prices into the stratosphere.
bitcoin ETF Token will most likely be one of the cryptocurrencies that attracts a large amount of this capital and generates substantial returns for investors, given its well-thought-out play on the phrase “bitcoin ETF” in its name.
BTCETF sells for as little as $0.005 and can be purchased using Ether (eth), USDT, or bank card through the project website. website. Anyone looking to buy the token may want to hurry as the price of the cryptocurrency will rise in the next 3 days.
Related Posts:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
Join our Telegram channel to stay up to date on breaking news coverage
