Will Toncoin hit the $2.5 resistance mark after rallying by 8% today?

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Toncoin is the finest performer amongst the high 100 cryptocurrencies by market cap right this moment.
TON surpassed the $2 psychological stage earlier right this moment and will rally increased.
The broader cryptocurrency market is having a poor begin to the week.

TON rallies regardless of the market’s poor begin to the week

TON, the native token of the Toncoin blockchain, is at present the finest performer amongst the high 100 cryptocurrencies by market cap right this moment. The coin is up by 8% to date right this moment and will rally increased over the subsequent few hours.

At press time, the price of Toncoin stands at $2.0744 per coin. There isn’t any obvious catalyst behind this newest rally, as the broader cryptocurrency market has been underperforming over the previous few hours.

The complete crypto market cap stands at $844 billion, down by 1.4% in the final 24 hours. Bitcoin is down by greater than 1% and has dropped beneath the $17k stage as soon as once more.

Ether, the second-largest cryptocurrency by market cap, has additionally misplaced greater than 1% of its worth to date right this moment. At press time, the price of Ethereum stands at $1,250 per coin.

Key ranges to look at

The TON/USDT 4-hour chart is bullish, as Toncoin has been performing properly over the previous few days. TON is up by roughly 14% in the final seven days regardless of the broader crypto market’s poor efficiency.

The MACD line is inside the optimistic zone, indicating that the bulls are in control of the TON market at the second. The 14-day RSI of 71 additionally signifies that TON might enter the overbought area if the rally continues.

If the rally continues, TON might hit the $2.5 resistance stage for the first time in months. However, it will want the help of the broader crypto market to take action.

The broader crypto market is at present bearish, and that might have an effect on TON’s efficiency in the close to time period. TON might dip beneath the $2 help stage over the subsequent few hours if that occurs.

Where to purchase Toncoin now

As TON is such a brand new asset, it is but to be listed on main exchanges. You can nonetheless buy TON utilizing a DEX (decentralised trade) although, which simply means there are a number of further steps. To purchase TON proper now, observe these steps:

1. Buy ETH on a regulated trade or dealer, like eToro ›

We recommend eToro as a result of it is one in every of the world’s main multi-asset buying and selling platforms, an trade and pockets all-in-one with a few of the lowest charges in the business. It’s additionally beginner-friendly, and has extra cost strategies accessible to customers than some other accessible service.

2. Send your ETH to a suitable pockets like Trust Wallet or MetaMask

You’ll must create your pockets, seize your tackle, and ship your cash there.

3. Connect your pockets to the 1Inch DEX

Head to 1Inch, and ‘join’ your pockets to it.

4. You can now swap your ETH for TON

Now that you simply’re linked, you can swap for 100s of cash together with TON.