The cryptocurrency market has displayed a stable price action over the past day after kickstarting the month of July on a bullish note. Further, top crypto tokens have successfully held on to their recent gains, indicating increased positive influence in the crypto space.
On the other hand, the TON price continues to trade under a bullish sentiment by adding significant value to its portfolio over the past few days. With the rising bullish sentiment, will the Toncoin price achieve a new all-time high (ATH) this July?
TON Crypto Price Records Increased Bullish Influence:
Amid increased price volatility in the crypto space, the Toncoin price has continued to record a bullish price sentiment for the 4th consecutive day. This highlights increased positive sentiment for the altcoin. Notably, the TON crypto has jumped 2.76 within the past day with a change of +14.96% in trading volume.
Moreover, since May, the TON token has traded in an ascending channel pattern, indicating a long-term bullish sentiment. Further, with the recent surge the price has regained momentum and has successfully surpassed its important resistance level of $7.680.
With a jump of 4.03% within the past seven days, the Toncoin (TON) price has successfully surpassed the biggest memecoin, Dogecoin (DOGE), which has a market cap of $17.886 Billion to claim the spot of the 8th largest cryptocurrency, with a market capitalization of $19.432 Billion.
Toncoin Market Sentiments:
The technical indicator, SMA, constantly supports the TON price chart in the 1D time frame, suggesting an increase in the bullish sentiment for the Layer-1 token in the cryptocurrency market.
On the other hand, the Relative Strength Index (RSI) has successfully retested its mid-point following which it has recorded a constant uptrend toward the overbought range. Moreover, the average trendline displays a positive curve, suggesting the Toncoin price will continue gaining value this week.
Will TON Price Achieve A New ATH This July?
If the market holds the TON crypto price above the support level of $7.680, the bulls will continue to gain momentum and prepare to achieve a new ATH by heading toward its high of $8.880. Maintaining the price at that level will set the stage for Toncoin to test its high of $10 in the coming time.
Conversely, if the bears overpowered the bulls, the TON token will drop toward its support trendline of the channel pattern. Further, if the bulls fail to hold the price at that level, the Toncoin will plunge toward its low of $6.415 this month.
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