Toncoin’s recent momentum has propelled it ahead of Cardano (ADA), making it the 9th largest cryptocurrency by market cap at $16.30 billion, surpassing Cardano’s $16.21 billion.
By Bena Ilyas
Edited by Julia Sakovich
Updated
2 mins read
The cryptocurrency market remains largely stagnant, with Bitcoin and Ethereum exhibiting neutral price action over the past week. However, amidst this lull, Toncoin (TON) and Notcoin (NOT) are carving their own paths, sparking questions about their potential dominance in June.
Toncoin has defied the overall market trend, experiencing a surge in both price and trading activity. Despite the TON’s price declining 3.12%, Its trading volume has skyrocketed by 170% in the last 24 hours. Additionally, Toncoin boasts a 22% jump over the past month, solidifying the bullish sentiment surrounding the token.
Photo: TradingView
Toncoin’s recent momentum has propelled it ahead of Cardano (ADA), making it the 9th largest cryptocurrency by market cap at $16.30 billion, surpassing Cardano’s $16.21 billion.
Technical indicators further support Toncoin’s bullish trajectory. The Relative Strength Index (RSI) has successfully retested its midpoint and is now heading towards the overbought zone. Additionally, the token’s moving averages depict a bullish curve, suggesting continued price appreciation in the near future.
Analysts predict that if the market maintains its momentum, Toncoin could break its crucial resistance level and attempt to retest its all-time high of $7.60. However, a bearish reversal could pull the price back towards its support level of $6.30.
Notcoin’s price has risen by 10.80% in the last 24 hours. Over the past week, NOT surged by 275%, and over the past month by 47.30%. As of now, Notcoin is trading at $0.02118, with more than 102.72 billion tokens in circulation. This gives it a market capitalization of $2.18 billion, placing it 53rd in the global cryptocurrency market rankings.
Photo: TradingView
However, technical indicators paint a concerning picture for Notcoin. The Moving Average Convergence Divergence (MACD) indicator displays a sharp decline in its green histogram, signifying a rise in selling pressure compared to buying pressure. Additionally, the moving averages suggest a potential bearish crossover, hinting at a negative outlook for the token in the coming days.
If bulls regain control of the market, Notcoin could attempt to retest its upper resistance level of $0.02940. Conversely, if the bears maintain dominance, the token could fall back to its crucial support level of $0.01910.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
