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TON Becomes One of the Top 50 Cryptos in the Green Today


coinedition.com 08 November 2022 12:10, UTC
Reading time: ~2 m

According to the crypto market tracking website, CoinMarketCap, Toncoin (TON) is one of the very few top 50 biggest cryptocurrencies in the green for the day so far. At the moment, TON is trading at $1.67 after a 5.78% increase in price over the last 24 hours. The altcoin was also able to reach a high of $1.77 and a low of $1.54 over the same time period.

In addition to the altcoin being in the green over the last 24 hours, TON is also up more than 12% over the last seven days.TON’s 24-hour trading volume is also in the green by more than 20% today to now stand at $16,624,425.

Adding to TON’s rather successful last 24 hours is the fact that the crypto strengthened against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH), by about 11.13% and 12.16% respectively.

With its market cap of $2,038,984,590, TON is currently the 31st biggest cryptocurrency, which places it right behind Bitcoin Cash (BCH) and in front of VeChain (VET).

Daily chart for TON/USD (Source: CoinMarketCap)

The price of TON was able to rise above the resistance level at $1.6890. However, bears proved that the crypto market is still a seller’s market as its price was brought back down to rest on the daily 9 EMA line.

Currently, the 9 EMA is positioned above the 20 EMA on TON’s daily chart. This is a bullish sign that suggests that TON’s price will close above the resistance at $1.6890 to flip it to support.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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