bullish

Toncoin

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Toncoin (TON) price, a Telegram-based altcoin, has recently experienced a steady increase in its price, reflecting a broader uptrend in the market. After facing a challenging start earlier in the week, the cryptocurrency managed to recover, posting a slight gain of 3%. This short-term upward movement indicates a bullish outlook for TON price, signaling growing investor confidence in the token.&nbsp; 
<h2 id="strong-ton-price-recovery-as-bybit-highlights-key-developments-strong">TON Price Recovery As Bybit Highlights Key Developments</h2> 
Bybit, the second-largest <a href="https://coingape.com/glossary/cryptocurrency/">cryptocurrency</a> exchange globally by trading volume, has unveiled a report underscoring the strides made by The Open Network in its collaboration with Telegram.&nbsp; 
The initiative aims to introduce up to 500 million users to Web3 by 2028. With Telegram’s vast user base nearing one billion, the TON price is focused on integrating decentralized applications directly into the messaging platform.&nbsp; 
The hints that TON’s alliance with Telegram could mirror the success seen by WeChat’s Mini Programs in China, potentially positioning TON as a dominant force in the Web3 landscape. 
<h2 id="strong-ton-holder-profits-indicates-strong-investor-positions-strong">TON Holder Profits Indicates Strong Investor Positions</h2> 
The recent TON price analysis presents a mixed outlook for investors, according to<a rel="nofollow" href="https://app.intotheblock.com/coin/TON/deep-dive?group=financials&amp;chart=inAndOut"> Into The Block</a> data. A significant portion of TON holders, specifically 81.61%, are “In the Money,” their purchase prices range between $0.00 and $2.26, making up a total volume of 3.09 billion TON held by 2.96 million addresses. This suggests that the majority of TON holders are experiencing significant gains at the current price level. 
However, a small percentage, 2.28%, are “At the Money,” with their holdings valued close to the current market price, and a notable 16.12% of holders are “Out of the Money,” having purchased TON at prices between $6.84 and $8.18. These holders may face potential losses if the price fails to recover beyond their entry points. 
<figure id="attachment_213859" aria-describedby="caption-attachment-213859" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-213859" src="https://coingape.com/wp-content/uploads/2024/08/5ED907FC-0780-4C46-BFE6-B383853597D2.jpeg" alt="Toncoin Price Positioned to Hit ATH Amid Growing Telegram Partnership Momentum." width="1208" height="466" srcset="https://coingape.com/wp-content/uploads/2024/08/5ED907FC-0780-4C46-BFE6-B383853597D2.jpeg 1208w, https://coingape.com/wp-content/uploads/2024/08/5ED907FC-0780-4C46-BFE6-B383853597D2-300x116.jpeg 300w, https://coingape.com/wp-content/uploads/2024/08/5ED907FC-0780-4C46-BFE6-B383853597D2-768x296.jpeg 768w, https://coingape.com/wp-content/uploads/2024/08/5ED907FC-0780-4C46-BFE6-B383853597D2-150x58.jpeg 150w" sizes="(max-width: 1208px) 100vw, 1208px">
 <figcaption id="caption-attachment-213859" class="wp-caption-text">
 Source: Into The Block
 </figcaption>
</figure> 
Over the past 24 hours, the<a rel="nofollow" href="https://coinmarketcap.com/currencies/toncoin/"> TON price</a> has seen a modest increase in value, rising by 2% to reach $6.69. The price-performance during this period fluctuated between a low of $6.50 and a high of $6.66. This recent movement comes as TON remains significantly below its all-time high of $8.24, recorded on June 15, 2024, marking a decline of 19% from that peak.&nbsp; 
<h2 id="strong-ton-price-forecast-bullish-momentum-or-market-correction-strong">TON Price Forecast: Bullish Momentum or Market Correction?</h2> 
Ton price is experiencing a notable surge, signaling the potential onset of a bullish trend. If this upward momentum persists, the altcoin will likely surpass the $7 mark. Continued growth might push TON’s value close to $9, possibly reaching $10 in the near future. 
The Moving Average Convergence Divergence (<a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a>) shows bullish signals.&nbsp; The MACD lines (blue and orange) and histogram are shown below the price chart. The MACD line has crossed above the signal line, which is often bullish, indicating that upward momentum is building. The histogram has recently shifted to positive territory, supporting the possibility of a bullish move. 
<figure id="attachment_213860" aria-describedby="caption-attachment-213860" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-213860" src="https://coingape.com/wp-content/uploads/2024/08/TONUSDT_2024-08-23_21-48-13.png" alt="Toncoin Price Positioned to Hit ATH Amid Growing Telegram Partnership Momentum." width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/08/TONUSDT_2024-08-23_21-48-13.png 1154w, https://coingape.com/wp-content/uploads/2024/08/TONUSDT_2024-08-23_21-48-13-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/08/TONUSDT_2024-08-23_21-48-13-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/08/TONUSDT_2024-08-23_21-48-13-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-213860" class="wp-caption-text">
 Toncoin Price Chart| Source: <a rel="nofollow" href="https://www.tradingview.com/x/iru0dY8t/">TradingView</a>
 </figcaption>
</figure> 
However, a shift in market sentiment could alter this trajectory. In a bearish scenario, Toncoin’s price might stabilize around $6.5. Further downward pressure could see it dip to approximately $6, underscoring the inherent volatility in the cryptocurrency market. 
The post <a href="https://coingape.com/markets/toncoin-price-positioned-to-hit-ath-amid-growing-telegram-partnership-momentum/">TON Price Positioned to Hit ATH Amid Growing Telegram Partnership Momentum.</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

TON Price Positioned to Hit ATH Amid Growing Telegram Partnership Momentum.

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