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TKO climbs 100% on reports of Tokocrypto acquisition by Binance
The cryptocurrency has fallen 28% since forming a local top at $0.57
TKO may be revised to $0.34
Toko (TKO/USD) token is attracting buyers. With a 100% surge, it may be too late to buy a TKO now. However, when the opportunity presents itself, the positivity allows us to snap tokens. Cryptocurrency news.
The TKO rise comes amid reports that Binance is buying Indonesian cryptocurrency exchange Tokocrypto. We know that Binance is the world’s largest cryptocurrency exchange. So any approach to acquisitions could build optimism. Native token TKO reacted to the news, jumping from $0.283 to $0.57.
Binance has a particular interest in Tokocrypto as it is locally regulated. It is the first entity registered with the Commodity Futures Trading Regulatory Authority of Indonesia. Binance has already invested in Indonesian exchanges since 2020.
But it may be difficult to sustain the TKO surge, at least for now. At the time of writing, TKO has him trading at $0.42, down 28% from local highs. Trading volume also dropped sharply, increasing only 2.99%. But for investors watching Tokocrypto’s positive developments on Binance, TKO should remain on the waiting list.
Technically, TKO is bullish but faces a correction. From the RSI indicator, a reading of 77 means TKO is overbought and a correction is imminent.
The support is at $0.34, giving the bears an opportunity to push the cryptocurrency down. The level was a breakout zone triggered when the price rose.
Tokocrypto Acquisition Reports binanceBut now investors are facing a correction.
$0.34 is the level to watch if you are looking to buy tokens. Also, keep an eye on the token’s movements as positive news can trigger a sharp rise before reaching support.
binance
Binance is one of the largest cryptocurrency exchanges in the world. Suitable for more experienced investors, with over 600 cryptocurrencies to choose from. Binance is also known for its low trading fees and multiple trading options that users can benefit from. Peer-to-peer trading, margin trading, spot trading.
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Wazirkus
WazirX is India’s largest cryptocurrency exchange. Launched in 2018, WazirX has grown to become the most trusted exchange in the Indian crypto market. It is part of the Binance Group and serves users in 180 countries.
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