Toncoin (TON) eyes $10 after hitting a new ATH

Toncoin recently breached the milestone of $7.64, which has triggered speculation about a new level of $10. While a tentative timeline has not been drawn, it is expected to happen anytime soon. Two important factors—the golden cross pattern and the growth of the network—support this.

TON’s movements have formed a golden cross pattern, signaling the potential for a long-term uptrend. This is also the same factor that has taken the native crypto of The Open Network L1 blockchain to a position where it is now challenging Dogecoin (DOGE). TON is currently listed at $7.60, with an uptick of 6.70% in the last 24 hours. It further reflects a surge of 3.42% in the last 7 days and 3.76% in the last 30 days.

At the time of writing this article, the 24-hour trading volume had jumped by 117.14%, and the market cap was well above $18 billion. Near-term predictions are bullish, and so are the prevailing sentiments. For starters, TON is predicted to be valued at around $9.87 in the next 5 days and $24.87 in the next 30 days. The monthly surge is subject to achieving and sustaining the next resistance of $9.

If it does mark an uptick to $24.87, it will rise 228.09% from the current value amid the volatility of 5.60%.

Next is the network growth. It is evident from the rise in the number of active Toncoin wallets. The number previously was 1.28 million. It is now more than 8 million.  The global user base has also increased to 49 million. The Total Value Locked is almost $1 billion.

Dogecoin’s price is around $0.1434, having jumped 2.45% in the last 24 hours. Its market cap is above $20 billion, but its 8th position among the top 10 cryptocurrencies globally is in danger. Shiba Inu’s task could be accomplished by Toncoin, which is currently in the 9th spot.

DOGE’s near-term predictions are not precisely bearish, for the next figures are lower than the present value. The next 30 days, for instance, could see the value plummet by 13.98%. Thereby marking a stage at $0.123343. Also, the next 5 days are crucial for Dogecoin. A fall to $0.141865 from the present value of around $0.14325 will invite bears back into the picture.

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TON’s 14-day RSI stands at 61.11. The 50-day SMA and 200-day SMA are $6.38 and $3.94 respectively. It is more than certain to mark an upward trajectory. However, if the past is anything to go by, one simply cannot ignore that cryptocurrencies are subjected to high volatility. Bitcoin, for one, is still waiting for a call on rate cuts by the Federal Reserve.

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