Toncoin has dropped by 2% in the last 24 hours, and at the time of writing, it was trading at $2.67, according to CoinGecko. Despite the recent correction, TON is still up by more than 30% over the past week.
Toncoin price forecast
Toncoin is showing signs of a price correction after an impressive rally over the past week. In the last week, TON’s price has moved from $2.04 to $2.85 amid a notable spike in volatility. However, the bullish sentiment is weakening.
If TON continues dropping, the recently made gains will likely be erased, and TON will possibly test support at $2.50. If the token loses this support, further dips will likely be on the way, with TON dropping to $2.
Amid the recent gains, TON has reported a notable increase in its market capitalization, which now stands at more than $3.9 billion. TON currently ranks as the 20th largest cryptocurrency by this metric.
TON has a Relative Strength Index (RSI) of 51, showing a neutral zone between the sellers and the buyers. The token price could register a volatility spike depending on whether the bears or the bulls grow stronger.
Currently, the broader market is not registering a solid price action, with the global market capitalization gaining by less than 1%. Therefore, there is no market support to drive TON’s gains. On the other hand, the buying support is also weakening, which could see TON erase some of the recently made gains.
TON made a significant uptrend after Telegram announced it would release a privacy-boosting feature allowing users to use the platform without using their phone numbers. While TON was separated from the Telegram messaging app because of regulatory concerns, the token has continued reacting to news about the messaging platform.
Altcoin alternatives to buy today
If you missed the recent TON pump, you might consider investing in some of the best token presales happening today. Dash 2 Trade and FightOut are in the best presales of 2022, and they could deliver 10x gains because of their robust fundamentals.
Dash 2 Trade
Dash 2 Trade is a crypto signals platform seeking to equip new and experienced cryptocurrency investors with the best tools and features to help them make informed trading decisions. The Dash 2 Trade platform is set to be released soon, as the developers are already ahead of schedule.
A countdown to the end of the Dash 2 Trade presale has already started, with 18 days left before the presale ends. $10.19 million has been raised from the presale, and 76% of the presale tokens are being sold out. The token will be listed on exchanges in early 2023.
FightOut is a new move-to-earn platform whose presale only started recently. FightOut seeks to remove the barrier to entry to M2E platforms by making it cost-friendly and convenient for people to pursue fitness through Web3.
The FightOut presale is fast selling out, with more than $2.15 million being raised. There is a 50% bonus for early investors, ending after $5 million has been raised. The presale tokens are priced at 1 USDT = 60.06 FGHT.
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