","button_title":"Play-to-Earn Game List","span_one":"No obligations","span_two":"Free to use"}},"header":{"homepage":"Homepage","Game Reviews":"Game Reviews","Game List":"Game List","Developers":"Developers","Developer List":"Developer List","Gaming News":"Gaming News","search":"Search","local":"en","Popular P2E Developers":"Popular P2E Developers","Play To Earn Games":"Play To Earn Games","P2E Games":"P2E Games","Crypto Games":"Crypto Games","Web3 Games":"Web3 Games"},"meta":{"title":"Games to Earn, Blockchain, NFT, P2E Games List","description":"Play hundreds of games! Games to Earn, P2E, Blockchain, NFT, Crypto, Web3 Games. Read game reviews and start playing right away. Play now!","ogType":"article","keywords":"NFT Games, Crypto Games, Earning Games, Earning Games, Blockchain Games, P2E Games"}}},"initialLocale":"en","ns":["news_letter","singleNews","singleGame","footer","common","header","meta"],"userConfig":{"i18n":{"locales":["en","hi","fr","es","de","pt","nl","tr"],"localeDetection":false,"defaultLocale":"en","domains":[{"domain":"playtoearngames.com","defaultLocale":"en"},{"domain":"hi.playtoearngames.com","defaultLocale":"hi","locales":["hi-IN"]},{"domain":"fr.playtoearngames.com","defaultLocale":"fr","locales":["fr-BE","fr-CA"]},{"domain":"es.playtoearngames.com","defaultLocale":"es","locales":["es-GT","es-MX"]},{"domain":"pt.playtoearngames.com","defaultLocale":"pt","locales":["pt-BR"]},{"domain":"de.playtoearngames.com","defaultLocale":"de","locales":["de","de-DE","de-AT","de-CH"]},{"domain":"nl.playtoearngames.com","defaultLocale":"nl","locales":["nl-BE"]},{"domain":"tr.playtoearngames.com","defaultLocale":"tr"}]},"trailingSlash":true,"default":{"i18n":{"locales":["en","hi","fr","es","de","pt","nl","tr"],"localeDetection":false,"defaultLocale":"en","domains":[{"domain":"playtoearngames.com","defaultLocale":"en"},{"domain":"hi.playtoearngames.com","defaultLocale":"hi","locales":["hi-IN"]},{"domain":"fr.playtoearngames.com","defaultLocale":"fr","locales":["fr-BE","fr-CA"]},{"domain":"es.playtoearngames.com","defaultLocale":"es","locales":["es-GT","es-MX"]},{"domain":"pt.playtoearngames.com","defaultLocale":"pt","locales":["pt-BR"]},{"domain":"de.playtoearngames.com","defaultLocale":"de","locales":["de","de-DE","de-AT","de-CH"]},{"domain":"nl.playtoearngames.com","defaultLocale":"nl","locales":["nl-BE"]},{"domain":"tr.playtoearngames.com","defaultLocale":"tr"}]},"trailingSlash":true}}}}How Toncoin Rocketed 9% While Other Cryptos Stumbled - The Shocking Truth - Play to Earn Games News
How Toncoin Rocketed 9% While Other Cryptos Stumbled - The Shocking Truth
Reinout te Brake | 19 Aug 2024 18:36 UTC
In the whirlwind world of cryptocurrency, Toncoin (ton) has recently distinguished itself as a notable performer, witnessing a nearly 9% increase in its value on August 19. This remarkable growth stands in stark contrast to the broader market, which saw a decline of approximately 3% during the same timeframe. The surge in Toncoin’s valuation can be attributed to a significant technical breakout, signaling a potentially enduring uptrend for the cryptocurrency.
The Surge of Toncoin: A Technical Analysis
The recent ascent of Toncoin can be traced back to its adherence to the bump and run reversal (BARR) pattern, a hallmark of potential long-term growth trajectories in asset prices. The BARR pattern serves as a technical roadmap, commencing with a period of decline (the lead-in phase), followed by a bump (a downturn), culminating in the run phase—the asset’s recovery and advance past significant resistance levels. Toncoin's transition into the run phase on August 18, as evidenced by its move above a declining trendline that had previously hampered its recovery, marked a pivotal moment for the cryptocurrency.
This breakout was complemented by a spike in trading volume, a clear signal of increasing momentum behind the coin's movement. Currently, trading above both its 50-day and 200-day exponential moving averages (EMAs)—both trending upwards—Toncoin exhibits promising signs of positive market sentiment.
Future Projections: A Path to $9.50 and Beyond?
Should the momentum behind Toncoin continue, the cryptocurrency might set its sights on reaching $9.50 by September, reflecting a 40% increase from its current price level. Additional analysis drawing on the inverse head and shoulders (IH&S) pattern, another reversal setup, corroborates this optimistic viewpoint. This pattern, consisting of three troughs with the middle one being the deepest, typically resolves with the price breaking above a resistance level known as the neckline. Applying this analysis to the ton/USDT chart, a target price of approximately $10 by September emerges, aligning with predictions based on the BARR pattern.
Enhancing this upbeat forecast is a series of developments that underscore Toncoin’s potential for sustained growth. Among these is the launch of ton Ventures, a $40 million fund dedicated to supporting early-stage projects on the ton blockchain, and the integration of Toncoin with Injectives. These fundamental advancements suggest a robust foundation for Toncoin’s ascent.
The convergence of technical indicators and fundamental developments paints a promising picture for Toncoin. With a target price range of $9.50 to $10 by September, the cryptocurrency is on track to carve its path upward, unfazed by broader market fluctuations.
Summary: The Rising Trajectory of Toncoin
Toncoin's recent performance in the cryptocurrency market is a testament to its resilience and potential for growth. Having surged nearly 9% amid a broader market downturn, and buoyed by a breakout from the BARR pattern, Toncoin stands as a beacon of optimism in the volatile realm of digital finance. The technical and fundamental indicators pointing to its continued resurgence, alongside the potential to hit new price targets, position Toncoin as a digital asset worthy of attention in the coming months.
As the landscape of cryptocurrency continues to evolve, the journey of Toncoin offers a compelling narrative of technical breakouts and foundational advancements, signaling a possibly lucrative horizon for those tracking its ascent.
The Journey Towards Launching a Solana ETF Continues Amid Regulatory Hurdles
VanEck's ambitious project to introduce a Solana exchange-traded fund (ETF) maintains its momentum, even as it navigates the complexities of regulatory requirements Despite the recent disappearance of a critical document from a regulatory website, the firm remains steadfast in its commitment to bringing this innovative financial product to market
Understanding the Regulatory Process for ETFs
The regulatory pathway for launching an ETF involves numerous steps, one of which includes the submission of a 19b-4 filing This document, essential for gaining the U S...
In the rapidly evolving world of digital currencies and blockchain technology, CoinDesk stands as a beacon of insightful journalism, meticulously covering the cryptocurrency industry's developments and trends Recently, CoinDesk has taken a monumental stride by joining forces with the Bullish group, a move that both amplifies its resource arsenal and bridges further connections within the digital asset exchange sphere This significant acquisition signals a noteworthy shift in the landscape of cryptocurrency journalism and digital asset trading, reflecting the constant evolution that characterizes this dynamic sector
CoinDesk's New Era under Bullish Group Ownership
In November 2023, CoinDesk embarked on a transformative journey, aligning with the Bullish group, the proprietor of Bullish, a regulated platform specializing in digital asset exchanges This alliance not only elevates CoinDesk's position in the market but also integrates the journalistic prowess of CoinDesk with the innovative financial solutions offered by Bullish...
In an age where the digital finance landscape is rapidly evolving, the convergence of traditional financial structures with innovative cryptocurrency solutions signals a remarkable phase of growth and expansion The recent acquisition by Bitwise Asset Management of ETC Group marks a significant milestone, enhancing its market position within the European region Through this strategic move, Bitwise has not only broadened its portfolio with a slew of exchange-traded products (ETPs) that boast both novelty and popularity but also set the stage for a smoother integration within the global crypto asset management sphere
Bitwise Secures ETC Group, Promises Smooth Transition
Bitwise Asset Management is on course to rebrand ETC Group’s ensemble of ETPs, integrating them under the Bitwise banner in the coming months Importantly, the firm is committed to maintaining the original structure and intent of these products, ensuring that investors face no disruptions during the transition period...