bullish

Toncoin

Drops

Rise

Coin

<p>Over the past two weeks, Toncoin (TON) price saw a significant retracement and dragged over 25%, retesting the 200-day EMA mark this week. Despite the increased selling pressure, the <a href="https://www.thecoinrepublic.com/price-prediction/toncoin/">TON </a>price saw a sharp pullback in the last session.</p> 
<p>The renowned crypto exchange, Binance, announced the listing of Toncoin on August 8 on its platform. It led to increased buying interest and demand for TON and it exhibited a surge of over 10% intraday.</p> 
<p>The Toncoin price recently made a double bottom formation around its base 200-day EMA mark and saw a notable pullback over 7% intraday and 30% in a week. Amidst the market’s ups and downs, the token was poised for a reversal and could see a bullish reversal ahead.</p> 
<p>When writing, the <strong>TON </strong>price traded at $6.17 with an intraday surge of 8.26%, reflecting buying momentum with increased volume participation.</p> 
<p>Fueled by the increased demand and a recent reversal, the Toncoin bulls were looking to regain the bullish momentum. They seemed to be willing to execute a potential reversal ahead.</p> 
<h2 class="wp-block-heading" id="h-toncoin-ton-seems-set-for-a-reversal-price-action-outlook"><strong>Toncoin (TON) Seems Set for a Reversal: Price Action Outlook</strong></h2> 
<p>Despite the market’s recent bloodbath, the <strong>TON price</strong> traded in the bullish region and stayed above the 38.2% Fib cluster, defining the long-term bullish trend.</p> 
<p>In the last 24 hours, a significant pullback with an increase of over 180% in the trading volume was noted. It signified the investors’ optimism for TON.</p> <iframe loading="lazy" title="Santiment Chart: Price (TON), Volume (TON)" width="800" height="425" src="https://embed.santiment.net/chart?ps=polkadot-new&amp;pt=DOT&amp;df=2024-02-08T18%3A29%3A59.788Z&amp;dt=2024-08-08T18%3A29%3A59.788Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Btoncoin%3BTON%5D%3B%5B1%3Bvolume_usd%3Btoncoin%3BTON%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>At press time, The RSI for <strong>Toncoin</strong> was 43 and saw a sharp vertical spike, indicating that the token has reverted the gains from the oversold trajectory. Notably, high reversal chances were plotted when the asset bounced from the 200-day EMA, resulting in a potential up move.</p> 
<p>@ICODrops tweeted that Binance will list the Ton and open trading from 8-8-24.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">.<a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@binance</a> will list <a href="https://twitter.com/ton_blockchain?ref_src=twsrc%5Etfw">@ton_blockchain</a> <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> and open trading for the following spot trading pairs at 2024-08-08 10:00 UTC.<a href="https://t.co/uhOQvfYEa7">https://t.co/uhOQvfYEa7</a> <a href="https://t.co/WVZLVT8ihT">pic.twitter.com/WVZLVT8ihT</a></p>— ICO Drops (@ICODrops) <a href="https://twitter.com/ICODrops/status/1821424249279549799?ref_src=twsrc%5Etfw">August 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>Per the price action, the token has completed the retracement cycle and is set for the next reversal phase, which could soon lift the token price to the $8 mark.</p> 
<h2 class="wp-block-heading" id="h-social-metrics-noted-a-sharp-surge"><strong>Social Metrics Noted a Sharp Surge</strong></h2> 
<p>Fueled by the price reversal, the social dominance curve noted a massive rise and lifted over 32% to 2.241%. This means the media buzz for the TON coin saw a sharp incremental move, and investors have started to chat on media platforms.</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (TON), Active Addresses 24h (TON), Velocity (TON)" width="800" height="425" src="https://embed.santiment.net/chart?ps=polkadot-new&amp;pt=DOT&amp;df=2024-02-08T18%3A29%3A59.788Z&amp;dt=2024-08-08T18%3A29%3A59.788Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Btoncoin%3BTON%5D%3B%5B1%3Bactive_addresses_24h%3Btoncoin%3BTON%5D%3B%5B1%3Bvelocity%3Btoncoin%3BTON%5D&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Similarly, the number of active addresses on the Toncoin chain witnessed a surge of about 7%, rising to 624. That reflected improved user engagement, growing activity on the network, and the possibility of greater adoption of the ecosystem.</p> 
<p>Despite the positive metrics data, the market trend was directing mixed cues. The coin price took support around the 200-day EMA mark and was on the brink of a trend reversal.</p> 
<h2 class="wp-block-heading" id="h-futures-open-interest-saw-a-massive-rise"><strong>Futures Open Interest Saw a Massive Rise</strong></h2> 
<p>Following the sharp price rise, a long buildup activity in the futures trading and the Open Interest (OI) grew over 23.20% to $223.34 Million in the past 24 hours.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="233" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-1024x233.png" alt="Open Interest Data&nbsp; Source: Coinglass" class="wp-image-655111" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-1024x233.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-300x68.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-768x175.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-150x34.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-696x158.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83-1068x243.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-83.png 1402w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Open Interest Data&nbsp; Source: Coinglass
 </figcaption>
</figure> 
<p>If the <strong>TON price </strong>succeeds in holding gains above the $6.50 mark, it can trigger a recovery. It might go toward the upside resistance zone of $7.0 and then $8 ahead.&nbsp;</p> 
<p>On the other hand, if the coin price fails to secure the $6 mark, a significant fall can be seen ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/08/toncoin-price-jumps-10-after-exchange-listing-whats-next/">Toncoin Price Jumps 10% After Exchange Listing: What’s Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Toncoin Price Jumps 10% After Exchange Listing: What’s Next?

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