Toncoin (TON) has started an upward trajectory towards the $6 mark. However, bearish resistance has stopped TON in its tracks temporarily. Yet, analysts are still hopeful and believe that the Toncoin price could cross the mark in the coming weeks.
If this happens, Che forecasts a potential high of $8-$9 in the long term. Besides, the cryptocurrency’s RSI has entered the buying territory, which is a bullish sign.
Toncoin (TON) Fails To Reclaim the $6 Resistance
Toncoin (TON), which is connected to the Telegram messaging app, soared to a peak of $8.24 in June 2024. Unfortunately, the price of the Toncoin crypto dropped in the following months due to an increase in selling pressure across the crypto market.
Meanwhile, a price rebound started in August that took the Toncoin price back to the $7 region. The uptrend came due to the massive increase of interest in Telegram mini apps like DOGS and Hamster Kombat.
Currently, in November, interest in these apps has taken a huge hit due to “unfulfilled promises.” The value of the Telegram-linked coin is trading between $4.6 and $5.4 in the weekly timeframe on CoinMarketCap.
The altcoin had capitalized on the recent uptrend in the market to break above the $6 mark.
Toncoin (TON) Eyes Potential Breakout
Despite the downturn, analysts like Mr.Signal forecast the price of TON could reach $6 in the coming weeks. Another analyst, Che, forecasted the value of Toncoin (TON) may rally to $8-$9 in the months ahead.
Some of the cryptocurrency’s technical indicators, like the Stochastic Fast (14) and RSI (14), have gone bullish. They are signaling a rise in buying activity, which could lead to more profits.
The Toncoin (TON) price could rally to the Fibonacci 0.618 line at the $6 resistance. If the price of TON can effectively break out from this wedge pattern, then a breakout to the $8-9 level Che forecasted could happen in the coming week.
The latest forecasts come after TON goes live on ARKHAM. Toncoin (TON) users can now visualize large data on the TON network, track their trading performance and review live transactions and transfers.
Lunex Network (LNEX): A Rising Star in DeFi Market with Impressive Performance
Lunex Network (LNEX) has gained the crypto community’s attention as the price of the LNEX token skyrocketed from $0.0012 to $0.002, which is a 60% increase. This expectation has led both new investors and more experienced traders to LNEX presale, as analysts suggest it will increase 18x in the coming months.
Another interesting part of Lunex Network is its cross-chain swap. Unlike many platforms that only allow users to work in a single blockchain, Lunex has multiple blockchains. This cross-chain functionality enables the users to swap over 50000 cryptocurrencies across different networks and without having to switch between different exchanges, traders can diversify and get access to as many assets as possible.
For traders this means reduced cost of transactions and faster execution of trades, which in turn increases the optionality and speed of their trades. Privacy and security are two important values of Lunex Network. This platform is attractive to traders who wish to remain anonymous and those who do not want to go through the lengthy process of registering through KYC protocols.
Due to fast cross-chain swaps, no-KYC privacy, and security, Lunex Network can be quickly noted as a go-to DeFi platform for traders. As Lunex Network expands, it is redefining what a DeFi project should look like in the future and what it should provide to all categories of users: active traders and long-term investors.
You can find more information about Lunex Network (LNEX) here:
Website: Lunex NetworkTelegram: Join Lunex’s Growing Community
