Toncoin (TON) Surges to 7-Month High on Telegram Partnership
Toncoin (TON) has reached a seven-month high, driven by market optimism surrounding its recent partnership with Telegram. According to Pavel Durov, the founder of Telegram, TON Wallet will be integrated into the settings and attachment menus for users outside the U.S. and select other countries starting in November.
Earlier today, TON/USD reached a peak of $2.51, bouncing back from a low of $2.39 less than 24 hours ago. This surge has propelled Toncoin to its highest level since February 22, when it reached $2.61.
On the chart, the relative strength index (RSI) is now in deeply overbought territory, surpassing the 76.00 ceiling. Currently at 78.25, the next visible resistance point for TON/USD is at 80.00.
Solana (SOL) Reclaims $20.00 Mark
Solana (SOL) has finally moved back above the $20.00 mark after hovering near it for several days. Starting the week at a low of $19.51, SOL/USD has now reached a high of $20.36 in today’s session.
This climb can be attributed to Solana bouncing off a key support point of $18.60 on Monday and currently sitting at its highest point since September 5.
Upon closer examination of the chart, another contributing factor to this move is the RSI surpassing the 48.00 ceiling. Currently at 52.75, price strength for SOL/USD is at its highest level since mid-August.
Bulls are likely keeping an eye on the $22.00 ceiling, which could be reached if the RSI avoids upcoming obstacles.
Hot Take: Toncoin and Solana Show Strong Performance
Toncoin (TON) and Solana (SOL) have both demonstrated impressive performance in today’s session. Toncoin surged to a seven-month high due to market optimism surrounding its partnership with Telegram, while Solana reclaimed the $20.00 mark after days of hovering near it.
Both cryptocurrencies have shown strength in their respective charts, with TON/USD reaching its highest level since February and SOL/USD sitting at its highest point since September.
Investors will be keeping a close watch on the resistance levels for both coins, as well as the performance of their relative strength indices (RSIs), which indicate overbought conditions. The success of these cryptocurrencies may depend on their ability to overcome upcoming obstacles and maintain their upward momentum.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.