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Biggest Movers: TON Hits 7-Month High, After Rising 50% in the Last Week

source-logo  news.bitcoin.com 19 September 2023 16:41, UTC

Toncoin rallied to a fresh seven-month high on Tuesday, as Telegram founder Pavel Durov revealed more details about its recent partnership with the blockchain. Generally, the crypto market cap has been higher in the past days, mostly in anticipation of Wednesday’s Federal Reserve interest rate announcement. Solana surged above $20.00.

Toncoin (TON)

Toncoin (TON) climbed to a seven-month high in today’s session, as markets remained optimistic about the recent partnership with Telegram.

Discussing the partnership, Telegram founder Pavel Durov stated that, “Starting this November, TON Wallet will be included in the settings and attachment menus for all our users outside the U.S. and some other countries.”

TON/USD peaked at $2.51 earlier in the day, which comes less than 24 hours after tracking at a low of $2.39.

TON/USD – Daily Chart

As a result of this surge in price, toncoin rose to its highest level since February 22, when price reached a top at $2.61.

Looking at the chart, the relative strength index (RSI) is now deeply overbought, since rising past a ceiling at 76.00.

Currently, the index is tracking at 78.25, with the next visible resistance point at the 80.00 level.

Solana (SOL)

After days of threatening to enter a key price point, solana (SOL) has finally moved back above the $20.00 mark.

Following a low of $19.51 to start the week, SOL/USD has risen to a high of $20.36 earlier in today’s session.

The climb comes as solana bounced from a key support point of $18.60 on Monday, and is now sitting at its highest point since September 5.

SOL/USD – Daily Chart

Looking closer at the chart, another reason for the move seems to be the RSI rising past a ceiling of 48.00.

At the time of writing, price strength is tracking at 52.75, which is its highest point since mid-August.

Bulls likely have one eye locked on the $22.00 ceiling, which could be hit should the RSI avoid upcoming obstacles.