Price Toncoin Soared, Analyst Warns of Potential Correction!

Bittime - In the midst of crypto market selling pressure, Toncoin (TON) actually appears different. This digital asset managed to maintain a bullish trend, aka price increase, the price of Toncoin (TON) even jumped 6.22% yesterday!

The price of Toncoin sempay is around IDR 125,548 (exchange rate $7.67). This increase also helped the Toncoin ecosystem overcome the 3.47% decline over the past week.

Price Toncoin Record Rise

Currently, Toncoin is the only crypto asset in the top 10 market capitalization ranks that is showing a real increase. Even though it experienced a decline in the last week, the 24-hour increase managed to extend Toncoin's positive monthly trend.

Throughout June, Toncoin has grown more than 16.3%, while Bitcoin has actually experienced a decline of 8.5%.

However, amidst this optimism, well-known market analyst Ali Martinez actually predicts a potential correction (price drop) in the near future. He shared an analysis of the 4-hour timeframe TON/USDT perpetual futures contract chart which displays a sell signal.

This signal is reinforced by the TD Sequential indicator which predicts Toncoin's decline in the next 1 to 4 candles.

Toncoin (TON) Price Overshadowed by Correction

This correction prediction may sound worrying for Toncoin investors. However, it should be noted, Toncoin has recorded a very good rally (price increase) throughout June.

Data from Cryptorank shows Month-to-Date (MTD) growth of 21.6%, meaning June was not as bearish as previous months for Toncoin.

However, Ali Martinez's predictions still need to be watched with caution, especially regarding risk management for current TON holders. Overbought trends in crypto assets are often a signal of potential correction.

This needs to be considered especially with Toncoin's trading volume reaching IDR 4.9 trillion (exchange rate $301.55 million) in the last 24 hours, an increase of 54%. High trading volume indicates positive sentiment from long-term traders towards Toncoin.

TD Sequential analysis brings out Toncoin price uncertainty that could influence trading decisions in the coming week.

Fundamentals Remain Important for Toncoin (TON) Price

Toncoin's rise cannot be separated from its strong ecosystem fundamentals. Toncoin's association with messaging platform Telegram as well as its widely adopted gaming apps has fueled high demand.

Not a few new games are trying to follow in the footsteps of Notcoin's success, which managed to reach millions of dollars in Total Value Locked (TVL) at its launch.

Apart from that, a number of well-known crypto platforms also provide support to Toncoin. Binance, for example, recently announced the integration of Tether (USDT) on Toncoin, a move that makes access to the TON ecosystem even easier.

It is these strong fundamentals that can help Toncoin bounce back even if TON's price experiences a correction.

How To Buy Toncoin (TON) With Bittime

You can buy and sell Toncoin (TON) in an easy and safe way through over. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

Toncoin (TON) available on Bittime with market pair TON/IDR. To be able to buy TON IDR Of over Make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study A complete guide on how to buy Toncoin (TON) at Bittime.

Monitor graphic movement price Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.