Convergence

Toncoin

Momentum

Foundation

<p>The Toncoin (TON) cryptocurrency has been on an upward trajectory lately. According to the latest price information from CoinMarketCap, Toncoin’s price is <a href="https://coinmarketcap.com/currencies/toncoin/" target="_blank" rel="noopener noreferrer nofollow">$3.58</a>, with a 24-hour trading volume of $359,080,997. Significantly, Toncoin has surged by 23.46% in the last 24 hours.</p>
<h2 class="wp-block-heading" id="strong-growth-for-ton-projects-strong"><strong>Growth for TON Projects</strong></h2>
<p>The TON blockchain has <a href="https://x.com/ton_blockchain/status/1767204550979563736?s=20" target="_blank" rel="noopener noreferrer nofollow">announced</a> that projects in The Open League are witnessing significant growth. Notably, @TonRaffles leads the pack, boasting over 70% user growth and a 60% increase in Total Value Locked (TVL). Consequently, the TON Foundation has announced an airdrop of 1 $TON to every @TonRaffles holder as a reward for the project’s success.</p>
<p>Additionally, the TON blockchain has revealed that a snapshot of $RAFF holders was taken at 11:57:07 GMT on March 11, 2024. Moreover, if you were holding $RAFF at that specific time, you will receive 1 $TON soon.</p>
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<h2 class="wp-block-heading" id="strong-technical-analysis-suggests-bullish-momentum-strong"><strong>Technical Analysis Suggests Bullish Momentum</strong></h2>
<p>An analysis of TON’s daily price chart from the TradingView platform <a href="https://www.tradingview.com/x/kqEhLE4C/" target="_blank" rel="noopener noreferrer nofollow">indicates</a> a bullish trend for Toncoin. Currently trading at $3.5716, the last candlestick on the daily chart is green, showing a significant increase in value. However, the Relative Strength Index (RSI) is at 83.74 and points upward, suggesting that the cryptocurrency may be overbought and due for a potential correction.</p>
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<p>Moreover, the Moving Average Convergence Divergence (MACD) and signal line trend upward, reinforcing the bullish momentum. Overall, while the technical indicators point towards a bullish trend for Toncoin, traders should exercise caution due to the overbought RSI, which could lead to a potential correction in the near future.</p>
<p>The Toncoin (TON) cryptocurrency’s price surge can be attributed to the growth of projects in The Open League, particularly @TonRaffles, and the TON Foundation’s airdrop incentive. Additionally, the bullish technical indicators on the daily price chart suggest ongoing momentum, albeit with a potential correction due to the overbought RSI.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-toncoin-ton-price-up/" rel="noopener noreferrer nofollow">Why is Toncoin (TON) Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is Toncoin (TON) Price Up?

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