As Bitcoin hovers near $65k, the altcoin market is gaining momentum. Despite this, Toncoin is facing increased price volatility, with TON consistently showing bearish trends. As investors shift their focus, the question arises: is this the right time to exchange Toncoin for Notcoin? Furthermore, will Toncoin maintain its top 10 status, or is a drop imminent?
Toncoin (TON) Performance Overview
Toncoin’s price has declined by 1.86% in the past 24 hours and 7.77% over the past month. Despite this drop, Toncoin holds its 10th position in the market, with a market cap of $13.166 billion. The MACD indicator has shown a steady decrease in the red histogram. However, it hints at a possible Golden Cross, which could trigger a bullish reversal.
At the same time, the SMA has provided support to TON’s price chart in the 1D time frame. This suggests growing bullish sentiment. If the bulls gain control, Toncoin may test the resistance level of $6.415 within the month. On the other hand, if the bears prevail, Toncoin might retest its low of $4.
Notcoin (NOT) Performance Overview
While Toncoin struggles, Notcoin has emerged as the top performer within the Toncoin ecosystem. Over the past 24 hours, Notcoin’s price increased by 6.91%, with a trading volume of $209.76 million. It has also gained 9.28% over the past week and 11.13% in the last 30 days.
The 50-day EMA is nearing a bullish convergence, indicating heightened buying pressure. Additionally, the RSI continues to trade above the mid-point, suggesting a bullish trend in the coming weeks. If Notcoin breaks above its resistance level of $0.00925, it could aim for $0.0140 in the near future. However, a bearish reversal could drive the price down to $0.00455.
What’s Next?
The upcoming weeks will prove crucial for both Toncoin and Notcoin. For Toncoin, maintaining support levels is vital to avoid further declines. A shift in market sentiment could lead to recovery towards resistance levels.
For Notcoin, continued upward momentum could solidify its position as a strong alternative investment in the altcoin market. Investors should monitor trends closely as they navigate this volatile environment.