The monthlong consolidation in the crypto industry is on again, with Toncoin (TON) showing a rare growth trend. Per market data, TON has successfully decoupled from Bitcoin over the trailing seven-day period while maintaining its status as the best-performing altcoin in the top 20. With the latest outlook, the prospect of a breakout remains on TON’s horizon.
Toncoin metrics turn bullish
Data from CoinMarketCap shows that Toncoin was trading for $3.63, up 1.4% in 24 hours as of press time. TON is obviously faring better when compared to the 2.8% drop in the price of Bitcoin within the same period.
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Over seven days, Toncoin has skyrocketed by 29.83%, its best weekly performance thus far this month. Beyond this price outlook, the trading volume of the digital currency has seen a 4.62% increase to $278,193,429.35.
Toncoin comes off as one of the most troubled altcoins on the market. Despite its breakout over the past week, it has dropped by over 34% year-to-date (YTD). The current rebound outlook suggests a potential price breakout is imminent if current bearish drawdowns are turned into strength.
TON price levels to watch
Over the past few weeks, the price of TON has moved from a low of $2.38 to a high of $3.83 as the bull-bear war rages on. The push for a breakout remains a concern for TON proponents. Earlier this week, the TON price jumped 6% in a move analysts believe implies the coin has bottomed out.
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Toncoin has made other decisive price shifts in the past week, flipping Stellar in its push for higher price shifts. In its push for a sustained rebound, analysts are keeping an eye on the resistance level at $3.70. Should there be additional price breakdown, the coin could form support at $2.30.
Source: https://u.today/toncoin-decouples-from-bitcoin-key-ton-price-levels-to-watch