The TON price indicates a breakthrough rally and a trend reversal as Bitcoin had a good day. Toncoin is one of the biggest gainers this week, having recovered from a cluster of strong support and signalling the continuation of the upward trend.

Will the Toncoin upward trend continue to be optimistic while the overall market recovery is still uncertain? Or is this altcoin about to crash and burn? See below for more information about our thorough price research.

Price Performance of Toncoin

The TON coin, with a market capitalization of $18.36 billion, is one of the top 10 cryptocurrencies. In addition, the price of TONNE has risen 8.28% over the past 30 days, rising 12.74% over the previous day. This illustrates the general downward trend over the previous 30 days, which has finally taken a bullish stand.

As per the 4H chart, the TON price action highlights a bullish breakout of a falling channel pattern. Despite the death cross, the bounce back from $4.60, the altcoin surpasses the 50 EMA and reclaims the $5 mark.

Currently, the Toncoin trades at $5.38 with a second bullish candle in the daily chart. The overnight reversal makes a tweezer bottom in the 1D chart, bolstering the altcoin’s uptrend possibility.

Technical indicators:

EMAs: Following the deathcross, the 50 and 200 EMA in the 4H chart remain sideways. With the recent recovery, the crucial EMAs could regain the positive uptrend in TON Price.

RSI: The 4-hour RSI slope shows a sharp uptrend from the oversold zone, highlighting a boom in the underlying bullishness.

Will TON Price Hit $7.50?

As the Bitcoin remains volatile, the chances of an uptrend are slim. However, with a minor jump and increased chacnces of uptrend above $60,000 in BTC, the TON price reflects remarkable recovery.

Hence, with a potential uptrend in the broader market, Toncoin could hit the $7.50 mark.