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With Bitcoin climbing back to the $65,000 level, the altcoin market is heating up again. However, Toncoin remains in a downward trend. The key question is whether Toncoin will be able to retain its position among the top 10 cryptocurrencies or lose value in the coming days.
Bitcoin’s Rise Boosts Altcoin Market, But Toncoin Faces Pressure
As Bitcoin hovers around the $65,000 mark, altcoins are seeing renewed activity. Yet, the Toncoin ecosystem is experiencing increasing volatility, driven by the consistently falling price of TON. The real question is whether Toncoin can hold onto its spot in the top 10, or if it will lose ground.
Toncoin Testing Crucial Support Levels
Toncoin continues to face a downtrend, losing 1.86% in the last 24 hours and 7.77% over the past month. Despite this, it remains in 10th place with a market cap of $13.166 billion. The MACD indicator shows a continuous decline in the red histogram, suggesting a potential golden cross signal. However, support from the SMA in the daily time frame could indicate a bullish sentiment for the altcoin.
If market bulls step in, Toncoin could regain momentum, possibly testing the resistance level at $6.415 this month. However, if bears dominate, the price could retreat to as low as $4.
Notcoin Sees Bullish Signs Amid Market Uncertainty
On the other hand, Notcoin is currently the best-performing asset in the Toncoin ecosystem. With a trading volume of $209.76 million, it has gained 6.91% in the past day, 9.28% in the last week, and 11.13% over the past 30 days. The 50-day EMA shows rising buying pressure, and the RSI indicator is trading above the midpoint, suggesting a positive outlook.
If Notcoin breaks above its resistance at $0.00925, it may test the upper resistance at $0.0140 in the coming weeks. However, a downward correction could see the price fall to $0.00455.
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