Toncoin (TON/USD) is on the verge of a breakout

• Toncoin has been bullish lately

• Cryptocurrencies are retesting resistance at $1.97

• Investors should watch out for breakout opportunities to buy tokens

The Toncoin (TON/USD) is trading at $1.97. Levels are important resistance zones. It’s the third time the cryptocurrency has been tested since September. TONCOIN has been trading with momentum at key levels, suggesting that buyers were looking for potential breakouts. Will it happen?

Toncoin is a decentralized blockchain and layer 1 protocol. The project was founded in 2018 by Telegram before being abandoned. Its acquisition by the TON Foundation changed its name from “Telegram Open Network” to “The Open Network” or simply TON.

TON is a community-driven protocol. It features a flexible architecture focused on typical customers. Blockchain’s mission is to have a robust ecosystem for decentralized services, storage, instant payments, and domain name systems. It is considered his one of the fastest blockchains. In September 2021, at the height of the cryptocurrency boom, Tong achieved a then world record of 55,000 transactions per second in a contest. Since then, TPS has grown rapidly as technology improved.

However, the native token TONCOIN has succumbed to the bear market. The token will hit $4.8 in December 2021. Although currently trading at less than half its value, the price is still healthy compared to most tokens. CryptocurrencyTONCOIN is now issuing a warning to bulls ahead of its next move.

TONCOIN Retests $1.97 Resistance

Toncoin/USD Chart by TradingView

Technically, TONCOIN is trading bullish and gaining momentum. The MACD indicator is bullish as the cryptocurrency retests the $1.97 resistance. .

What’s next for Toncoin?

Wait for confirmation of the breakout at $1.97 before purchasing TONCOIN. Investors should also be prepared for a fix as he was rejected three times at a cryptocurrency critical level. If you reject the rise, TONCOIN will return to $1.

where to buy toncoin

As TONCOIN is a very new asset, it is not yet listed on any major exchange. However, you can still buy his TONCOIN using a DEX (Decentralized Exchange), but this means some additional steps. To buy TONCOIN now, please follow these steps:

1. Buy ETH on a regulated exchange or broker such as eToro

We recommend eToro. This is because it is one of the world’s leading multi-asset trading platforms, an all-in-one exchange and wallet, and some of the lowest fees in the industry. It is also beginner-friendly and offers users more payment methods than any other available service.

2. Send ETH to a compatible wallet such as Trust Wallet or MetaMask

You need to create a wallet, get an address and send coins there.

3. Connect your wallet to 1Inch DEX

Head over to 1Inch and “connect” your wallet.

4. ETH can now be exchanged for TONCOIN

Now that you’re connected, you can redeem hundreds of coins, including TONCOIN.