With the recent trend and rise of Notcoin, Toncoin surpasses Cardano with a market cap of about $16.3 billion.
The cryptocurrency market has exhibited a predominantly inert performance over the past week, as Bitcoin and Ethereum have demonstrated benign price action. Nonetheless, amid this lull, Toncoin (TON) and Notcoin (NOT) are forging their trajectories, which raises doubts regarding their prospective June dominance.
Toncoin Explodes; Every Front Is Bullish
In contrast to the general market trajectory, both the price and trading activity of toncoin have increased. Despite a 3.12% decline in price over the past twenty-four hours, the TON’s trading volume has increased by a staggering 170%. In addition, Toncoin’s price has increased by 22% in the last month, reinforcing the favorable sentiment associated with the token.
Recent momentum has propelled Toncoin past Cardano (ADA), elevating it to the ninth largest cryptocurrency by market capitalization with a value of $16.30 billion, compared to Cardano’s $16.21 billion.
Additional technical indicators bolster the favorable trajectory of Toncoin. The Relative Strength Index (RSI) is trending toward the overbought region after effectively retesting its midpoint. In addition, the moving averages of the token exhibit a favorable trend, indicating that price growth is anticipated to continue soon.
Analysts predict that Toncoin may attempt to retest its all-time high of $7.60 if the market maintains its current momentum and surpasses a critical resistance level. A bearish reversal, on the other hand, might cause the price to retreat to its $6.30 support level.
The Notcoin Weekly Gain of 275%
Notcoin’s value has increased by 10.80% over the past twenty-four hours. NOT increased by 275% in the previous week and 47.30% in the last month. Notcoin is trading at $0.02118, and the total supply of tokens in circulation exceeds 102.72 billion. With a market capitalization of $2.18 billion, this asset ranks 53rd among cryptocurrencies worldwide.
Nevertheless, technical indicators for Notcoin are unsettling. An abrupt decline in the moving average convergence divergence (MACD) indicator’s green histogram indicates an increase in selling pressure relative to buying pressure. Moreover, the moving averages indicate a possible adverse crossover, which could portend an unfavorable future for the token in the upcoming days.
Notcoin might attempt to retest its upper resistance level of $0.02940 if bulls return to power. Conversely, should the bears persist in their predominance, the token may retrace its steps to its critical support level of $0.01910.