TON Coin Price Prediction: Will the Uptrend Hit $10 as the $TON Trading Begins on Binance?

Toncoin, the native crypto for the Telegram Open Network, backed by the messaging platform Telegram, is in a crucial position. As the central currency of the TON ecosystem, the demand for $TON has immensely increased since its launch.

Binance Lists Toncoin (TON) for Trading Against 4 Pairs Starting August 8

Toncoin price encountered a 16% surge, surpassing the $6 mark as Binance announces the listing of Toncoin (TON). The cryptocurrency jumped over 11.46% within 4 hours of the news.

The Toncoin Network宕Toncoin宕surged over 11% with the Binance listing news. The cryptocurrency encountered a 12% intraday surge, defending the dominance at the $5 psychological mark.

In the daily time frame, TON challenges the resistance trendline of the prevailing downtrend with a 12% intraday surge. The reversal formed a bullish engulfing candle to counter the 5% drop last night, uplifting Toncoin to reclaim the $6 mark.

Currently, TON trades at $6.28, surpassing the 23.60% trend-based Fibonacci level. The sudden surge in demand resulted in an uptick in the MACD line, teasing a bullish crossover with the signal line. However, the 50D EMA is in a downfall and warns of a bearish crossing with the 200D EMA for a death cross.

A bullish breakout of the overhead trendline will help counter the death cross and increase the trend momentum.

4-Hour Breakouts Signal Trend Reversal

While the daily price trend struggles to surpass an overhead trendline, the 4-hour chart is more bullish. Ignoring the trendline, the Fibonacci retracement over the correction since July reveals the recovery rally, surpassing the 38.20% level.

Moreover, the DMI indicator shows a bullish crossover in the VI lines, signaling a bull run ahead.

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