Toncoin (TON) Price Prediction: Key Levels to Watch Amid Market Volatility

  • Investors are preparing for significant volatility in the cryptocurrency market next week, driven by crucial developments.
  • Recent reports suggest that key changes are on the horizon, particularly influenced by upcoming inflation data on Thursday.
  • If the inflation numbers are lower than expected, this could prompt the Federal Reserve to consider rate cuts, whereas disappointing data could dampen the optimism generated by recent employment figures.

Explore the likely fluctuations in the cryptocurrency market for the coming week and prepare for notable developments with our expert analysis.

Expectations for Toncoin (TON)

Toncoin (TON) has experienced pressure since it peaked at $8.17 on July 3rd. The cryptocurrency faced strong market resistance, exacerbated by a bearish sentiment among investors. Despite dropping to $6.77, the downward momentum was arrested, and a close above $7.09 might see it retest higher resistance levels. However, if TON falls below $6.77, it could aim for $5.25, indicating a potential double top formation.

Performance Predictions for ADA Coin

The value of ADA Coin has been under duress after breaching the $0.35 support level. Should the selling pressure persist, ADA could target $0.25 upon dropping below $0.30, potentially stabilizing after an intense selling phase. For a short-term rebound, ADA must reclaim the $0.35 mark and surpass the EMA20 benchmark of $0.39.

Avalanche (AVAX) Price Movement

On July 5th, Avalanche (AVAX) dipped below $23.5, attracting buyers at these lower levels. A recovery could push prices toward $29, particularly if the price moves above the EMA20 level of $27.7. Nevertheless, if BTC continues its decline, AVAX might follow suit, potentially dropping to $19 after reaching $21.8.

Future Trajectory of SHIBA Coin

Shiba Inu’s value fell under the $0.000016 support on July 4th, breaking free from a narrow trading band. Although it briefly lost the $0.000014 support on Friday, it managed to recover. If this support level fails again, the price could tumble to $0.00001. Conversely, reclaiming the EMA20 level of $0.000017 seems plausible, especially if BTC shows signs of recovery.

Conclusion

As the cryptocurrency market approaches a week of potential volatility, investors should remain vigilant and informed. Monitoring key metrics like Thursday’s inflation data will be crucial. For example, watch for TON Coin’s closure above $7.09 to assess resistance levels, ADA Coin’s recovery in reclaiming $0.35 and EMA20 at $0.39, AVAX surpassing the EMA20 level of $27.7, and SHIBA Coin holding its $0.000014 support. These insights could be vital for navigating the anticipated market shifts.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Spot ETF Sees $1.005 Billion Inflow, BlackRock and Fidelity Lead Contributions

On November 22, 2023, COINOTAG reported a significant milestone...

Blackrock’s Bitcoin ETF Sees $608.2 Million Net Inflow to $IBIT on November 21st

Blackrock's Bitcoin ETF Sees $608.2 Million Net Inflow to...

Bitcoin’s $100,000 Breakthrough: Potential $1.381 Billion Short Liquidation on CEXs

According to recent data from Coinglass, if Bitcoin surpasses...

MicroStrategy’s Bitcoin Holdings Surge: $16.2 Billion Gain as BTC Reaches $98,842

COINOTAG News reports that as of November 22, MicroStrategy...

XRP Hits $1.4 Mark for the First Time in 2021, Promising Recovery for Crypto Investors

XRP Reaches $1.4 for the First Time Since September...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img