Toncoin has been quite volatile in recent times, and this has caught the eye of many people in the cryptocurrency market. According to recent data, Toncoin is currently valued at $6.66, with a daily trading volume of $1.40 billion, while the market cap has surged to $23.16 billion. This can be attributed to Binance, which recently listed Toncoin and introduced trading pairs such as TON/BTC, TON/USDT, and TON/FDUSD.

In its history, Toncoin hit the highest price of $8.27 on June 15, 2024, and the lowest price of $0.523925 on September 21, 2021. The price volatility has been significant, with the recent cycle low at $4.86 and the cycle high at $6.78. This movement indicates that these price falls are being unwound by increasing market access and investor interest. Though it is overall positive, the Fear & Greed Index stands at 40, which is in the Fear zone but there is a ray of hope that it can shift to the Greed zone soon.

Binance Listing and Market Impact

The recent listing of Toncoin on Binance has significantly boosted its price. The adoption of several trading pairs might have beneficially affected the trading volume and liquidity, which would have enhanced Toncoin’s reputation.

Earlier, Binance had also introduced Toncoin futures trading, which further built the market’s interest. The availability of both futures and spot trading on such a popular platform has lured retail and institutional investors, which has helped boost the price of Toncoin.

However, this has a special meaning at the moment, as it occurs at the same time as the overall improvement in the cryptocurrency market, and many altcoins, including Toncoin, have risen.

Toncoin’s Market Performance and Outlook

The Relative Strength Index (RSI) for Toncoin is at around 65, which places it close to the upper part of the neutral zone and still below an often used threshold for overbuying – 70 points. This shows that there is strong bullish momentum but traders should be cautious as it approaches overbought levels because if the market considers Toncoin expensive at these levels, a pullback might follow.

Moreover, the Know Sure Thing (KST) indicator shows its bullish signal with a line above the signal line while both lines move up. It usually signals further upward movement in the short term, meaning that this is a good moment to be optimistic about bull trades.

The Moving Average Convergence Divergence (MACD) seems to confirm this optimism as well. The blue MACD line is currently above the red signal one and both are moving upwards implying ongoing upward pressure. Furthermore, this alignment suggests that current trend could prevail until some major disruption occurs on the market or traders will change their sentiment concerning investments.

Potential for Reaching $10

Based on current market conditions, Toncoin may achieve $10 per coin, especially if its price continues to rise. It means more visibility due to Binance listing as well as improved performance suggesting that Toncoin has great chances for further growth.

Nevertheless, resistance may become apparent in case trading volumes do not persist at present levels or market mood changes.

At the same time, reaching $10 is only possible through continued support from participants and sustaining higher trade volumes. This target can be met within the next month if TON remains unaffected by temporary volatility and manages to keep up its actual pace.