Toncoin (TON), a token created by The Open Network, has performed well over the last few days. On Friday, the asset climbed another 6% on the daily charts, reversing its steep drop from the previous market crash. TON has recently been listed on Binance, causing the coin to rise in price as new investors jumped onto it. With the token performing well, how will its price fair for the weekend?
How Will TON Perform This Weekend?
Currently, price predictions for Toncoin (TON) are bullish, with investors swooping in on the latest Binance listing. TON debuted on Binance with Bitcoin, USDT, FDUSD, and TRY trading pairs. The recent climb for the asset has set a realistic target of $7 for the weekend.
The Binance exchange also announced TON futures trading earlier this year. Specifically, it arrived in early March, as the year has been a massive one for The Open Network. Throughout 2024 thus far, Toncoin has already surged a remarkable 170%. Yet, many experts predict even more gains for the crypto.
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Just a few days ago, TON experts said that the asset is undervalued, and might see a quick rebound before it dips any further. Now, that jump is being realized thanks to the Binance listing. New predictions from CoinCodex have TON reaching upwards of $8 next week, which may be a bit higher than expected. Currently priced at $6.60, TON could very likely reach $7 by the end of the weekend. Perhaps the $8 mark is a more sensible prediction for the end of August, should TON keep its ongoing momentum.
Toncoin has already increased more than 30% from the lows it incurred from Monday’s drop. Moreover, its technical indicators show that these gains could just be the start. On the daily chart, TON/USD is interacting with both the 50-day and 200-day exponential moving averages. The former’s $6.74 proves a notable resistance level.
It’s crucial to research the TON coin further before making such an investment. Data around a coin rarely remains static, and it’s important to note that before purchasing. While bulls could drive TON upwards over the weekend, there’s always a chance of bears doing the opposite. Keep an eye on the TON network’s socials for more updates around the token that could create bullish hype.