Volatility in the crypto market was at high levels between April 10th and 11th. At one point, the price of Bitcoin (BTC) fell to $67,574. Hours later, the coin's price rose to over $70,000 as of press time.
However, a notable increase was that of Toncoin (TON), whose value stood at $6.66 during intra-trading hours on the 10th. By the 11th, TON's price had increased by 14.46%, reaching $7.64.
Due to this price movement, TON contracts were among the contracts with the highest liquidations in the last hour. According to Coinglass, the wiped out TON positions were worth over $256,000.
Coin issue
In this article, Coin Edition analyzes the price of TON and others including BTC, Ethereum (ETH), and Polygon (MATIC).
BTC
As expected, Bitcoin experienced high volatility as the halving only lasted days like previous cycles. Evidence from the Bollinger Bands (BB) confirmed this sentiment. At press time, the BB was increasing, suggesting that price fluctuations could be significant.
In the short term, the indicator suggested that Bitcoin price could rise to $72,488. However, if the market were bearish, the coin's value could reach $68,108.
Coin issue
Meanwhile, Coin Edition also examined the Fibonacci expansion, which showed that Bitcoin could see another rally before the halving. According to the indicator, the price of the coin could reach $81,532 as shown by the Fibonacci extension of 3.618.
ETH
At press time, ETH was changing hands at $3,572, well above levels seen on April 9th and 10th. However, the price of the altcoin could rise given the signals from the Relative Strength Index (RSI).
At the time of writing, the RSI was at 57.46, indicating increasing bullish momentum. If the RSI value improves, the ETH price could also follow suit. From a bullish perspective, the price of the cryptocurrency could rise to $3,875. However, bearish momentum could push the price to $3,366.
Coin issue
TON
TON’s price surge has caused the token to become overbought, as shown by the RSI when the value crossed 70.00. As a result, the value could decline if bulls let down their guard. If this happens, TON, which is currently the ninth most valuable cryptocurrency by market value, could fall as low as $6.29.
In a very pessimistic case, the price could crash to $5.32. On the other hand, the Awesome Oscillator (AO) value was positive, indicating increasing bullish momentum. If the AO value continues to produce green histogram bars, TON’s bearish bias could be invalidated and the price could cross $8.
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MATIC
MATIC’s situation on the 4-hour time frame was different. According to Coin Edition’s analysis, the Money Flow Index (MFI) had been declining and was on the verge of reaching oversold territory. MFI’s decline was evidence that capital has flowed out of the token, making it difficult for its price to rise.
Coin issue
Furthermore, the super trend showed that a significant upturn may be unlikely in the short term. This was due to a sell signal at $0.93. So, if the value of MATIC increases, it could reverse if it gets into the above-mentioned area.
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