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<img decoding="async" width="1242" height="828" src="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg" class="attachment-full size-full wp-post-image" alt="Toncoin Price Prediction" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg 1242w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-1224x816.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-272x182.jpeg 272w" sizes="(max-width: 1242px) 100vw, 1242px">
Toncoin Price Prediction. The cryptocurrency market initiated June on a bullish note as the <a href="https://coingape.com/blog/when-will-btc-price-breakout-happen/">Bitcoin price</a> rebounded from $67000. This upswing hitting a mark of $70000 hints the BTC escaped from two weeks of consolidation and continued of prevailing rally. The renewed demand pressure has uplifted the majority of majors including Toncoin. With a 2.6% intraday, the Ton price is preparing to rechallenge the All time-high resistance of $7.5. 
Also Read: <a href="https://coingape.com/bitcoin-etf-inflows-propel-blackrock-fidelity-invesco-into-top-10-etf-issuers-list/">Bitcoin ETF Inflows Propel BlackRock, Fidelity, Invesco Into Top 10 ETF Issuers List</a> 
<h2 id="b-market-sentiment-boosts-toncoin-as-whale-activity-jumps-237-5-b">Market Sentiment Boosts Toncoin as Whale Activity Jumps 237.5%</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/n/nCTAqHPp.png" alt="OKX:TONUSDT Chart " width="1851" height="897">
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 Toncoin Price Prediction| Tradingview
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The mid-term trend trend in <a href="https://coingape.com/toncoin-ton-price-soars-as-whale-activity-surges-over-200/">Toncoin</a> is still bullish evidenced by the ascending trendline in the daily chart. This dynamic support intact since late March has bolstered the formation of a new higher low— a sign of an established recovery trend. 
<blockquote>
 However, with the broader market consolidation, the TON price struggles to surpass the supply pressure at $7.5. This horizontal resistance and the aforementioned support are the major driving forces behind TON’s current market movement.&nbsp;
</blockquote> 
Amid the renewed market sentiment, the Toncoin price is up 11.5% in the last 72 hours to trade at $7. 
Moreover, the number of large Toncoin (TON) transactions, each exceeding $100,000, has surged by an impressive 237.5% within the past 24 hours. This data, highlighted by renowned trader Alicharts, points to a noteworthy increase in whale activity within the Toncoin network. 
<blockquote class="twitter-tweet"> 
 The number of large <a rel="nofollow" href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw">#Toncoin</a> transactions (over $100,000) has surged by 237.5% in the past 24 hours! 
 This significant increase in <a rel="nofollow" href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> whale activity suggests a strategic shift in their investments and positions. <a rel="nofollow" href="https://t.co/iEHWFgxcp1">pic.twitter.com/iEHWFgxcp1</a> 
 — Ali (@ali_charts) <a rel="nofollow" href="https://twitter.com/ali_charts/status/1797611822499103150?ref_src=twsrc%5Etfw">June 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The data, sourced from IntoTheBlock, reveals that in the last 24 hours, there have been 27 large transactions, marking a sharp increase from the 7-day low of just 5 transactions on May 27, 2024. This uptick suggests that large investors are making strategic moves, possibly indicating a shift in their investment positions and strategies. 
If the bullish momentum develops, the <a href="https://coingape.com/markets/toncoin-price-prediction-will-ton-break-7-5-high-major-tvl/">TON</a> price could rise 7.2% and challenge the current peak of $7.5. With this altcoin poised to enter price discovery mode, the traditional pivot level indicator marks potential resistances at $9, followed by $10.6. 
Also Read: <a href="https://coingape.com/markets/win-the-bull-market-5-layer-2-crypto-to-buy-should-bitcoin-reclaim-72000/">5 Top Layer 2 Crypto Projects To Bag if Bitcoin Breaks $72,000</a> 
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Pivot Level: If the Toncoin loses the ascending support trendline, the price could find suitable support at $4.7.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: A bullish crossover between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> (Blue) and the Signal (orange) line above the neutral regions indicates the bullish sentiment restoring towards this asset.</li> 
</ul> 
The post <a href="https://coingape.com/markets/toncoin-price-prediction-7-5-breakout-in-whale-transactions/">Toncoin Price Prediction: $7.5 Breakout In Sight As Whale Transactions Escalate</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Toncoin Price Prediction: $7.5 Breakout In Sight As Whale Transactions Escalate

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