Toncoin has particularly risen to $7.67, which is close to the record high and indicates a high level of bullish pressure in the cryptocurrency market. The coin now has a large market capitalization of $18.5 billion, which makes it the ninth-largest cryptocurrency by market capitalization. This has been realized at a time when the crypto markets have been characterized by a lot of fluctuations, and Toncoin has been among the best performers.

Toncoin is currently in a testing phase of a significant resistance level at $8.00. TON’s trading volume of Toncoin rose 127% to $554 million in the last 24 hours, which shows the active traders. If TON coin manages to break this level, it will confirm the bullish signal and may push the price to new highs. The first resistance level is set at $7. 00, slightly below the recent lows, which is an important level that supports the current bullish bias.

The Relative Strength Index (RSI) for Toncoin is 62, which is still in the bullish zone but not in the overbought zone, implying further upside before the market is sold down again.

Toncoin Establishes a Bullish Pattern on the 4-Hour Chart as Resistance Emerges

At the moment, the price is fluctuating in the range of $7.58, slightly below the crucial resistance level of $7.86. EMA indicators (20, 50, 100, 200) are rising upwards and are located below the current price, which suggests that the price has significant support at $7. 25, $7.13, and $6.96. This bullish alignment indicates that the upward trend is likely to continue in the near future.

The AO (Awesome Oscillator) shows rising buying pressure with a value of 0.34, which may assist in taking the price above the nearest resistance level. The ATR (Average True Range) at 0. 20 is considered as moderate volatility and if the resistance is breached, it is likely to experience large price swings. These levels are important for traders to monitor because a break above $7 may be successful could open the door to additional improvements towards the $8. 00 mark.