In the previous week, the charts of the crypto market featured quite definite action on the part of several top coins. Some of the coins experienced massive flares in their prices, a factor that investors attributed to buying interest.
When discussing the names that are now in highest demand out of so many existing crypto coins, it would be important to mention TON, ADA, and BNB. These three coins are predicted to be able to experience significant price strengthening this week.
Toncoin (TON)
Toncoin (TON ) managed to steal attention in the frenzied crypto market movements last week. This coin, which is based on the Telegram network, showed a brilliant performance by recording a significant price increase. TON’s bullish action began with an 8.6% surge on June 2, which managed to take it through the $6.8 level for the first time in the last three weeks.
TON’s positive trend doesn’t stop there. The coin continued to climb, strengthening its momentum until it finally reached its all-time high (ATH) of $7.65 on June 5. This achievement also beats the previous ATH record which was set last April.
Despite a small decline in the following days, TON recorded an overall positive performance at the close of the week with statistics increasing by 2.5% in the past week. In the last 24 hours the price of TON decreased 3.1% and was at $6.91 TON’s crucial resistance area is at the 23.6% Fibonacci retracement level or around $6,969. With fundamental and technical prospects that are still quite good, TON has the opportunity to continue its strengthening if it succeeds in breaking through this level.
Cardano (ADA)
Cardano (ADA) faced less than encouraging conditions in its price movement last week. The coin is seen struggling to break out of its consolidation range around $0.40. Although there were some daily gains on June 3 and 4 that lifted the value by 3.3%, it was not strong enough to break the existing barricade of key resistance.
The increase in Bitcoin prices on June 7 provided a breath of fresh air for ADA. The coin was able to retest the important $0.49 psychological threshold. Unfortunately, the favorable momentum did not continue long. ADA was then hammered by profit-taking, resulting in a 3% loss for the week.
From a technological standpoint, ADA’s current situation is not encouraging. In the previous 24 hours, the coin has declined 2.2% to $0.4317. Cardano (ADA) trade volume was $518 million in the last 24 hours, up 66.40% from the day before and indicating an increase in market activity.
Read CRYPTONEWSLAND onTo shift to a bullish trend, ADA must first demonstrate substantial purchasing demand and successfully break through $0.46. If individual and institutional investors resume buying, ADA may recover and surge higher.
BNB (BNB)
On June 5, BNB’s price surpassed $700, reaching an all-time high (ATH), while the market prepared for profit taking. Binance has endured regulatory pressure over the past two years, including bans in several countries and a $4.6 billion legal settlement with US authorities.
Nonetheless, bullish momentum emerged after former Binance CEO, Changpeng Zhao, began serving a 4-month prison sentence. BNB price jumped 21% from June 1 to 5, reaching $715 before dropping to $697. BNB has now joined the club of crypto assets with market caps above $100 billion, though, is ranked fourth behind Bitcoin, Ethereum, and USDT.
At the time of writing BNB is around $615. The increase in BNB prices is thought to be triggered by the entry of LONG positions in the derivatives market. According to Kaleo, a leading analyst, the BNB price chart shows solid strength, signaling further upside. Kaleo’s insights, which often serve as a guide for the crypto community, have raised optimism about BNB’s potential big surge.
TON, ADA, and BNB show promising futures despite fluctuations. TON’s momentum, ADA’s overcoming of resistance, and BNB’s resilience in regulation suggest continued growth. Ongoing innovations and market developments will likely strengthen their positions in the crypto ecosystem.
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