Coin Watch: Toncoin (TON)

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TONCOIN (TON) is the native token of the blockchain platform The Open Network (TON). TON is a decentralized, scalable blockchain with the potential to handle millions of transactions per second. It consists of key elements such as TON Blockchain, TON Payments, TON Proxy, TON DNS, TON Storage, TON Services, and TON Workchains. TON aims to offer a highly scalable and secure network with features like multi-chain architecture, decentralized storage, anonymity, and decentralized DNS. The TONCOIN token serves various purposes within the TON ecosystem, including staking, governance, transaction fees, and access to services.



Looking at the weekly chart, we only have data from late 2022 and price has been ranging between 1$ and 3$.
Recently, the coin is in a bull run since august and is approaching resistance levels around 2.3$ and 2.6$.

On the daily chart, a falling wedge pattern was broken 6 days ago but is still in progress, with a target price of 2.5$.
RSI is bullish on both charts, but not totally overbought yet.

Stay tuned!