The post TON Fees Reach New All-Time High Amid Hamster Kombat Launch; While Price Remains Stuck Below $6, Here’s When it May Reach $10 appeared first on Coinpedia Fintech News
The much-awaited Hamster Kombat token is live now on the Toncoin blockchain with its 100 million monthly active users. As expected, the HMSTR price dropped from its pre-launch price of around $0.1 to the level of around $0.0068 at the moment. With this, the Toncoin blockchain’s trading activity soared to a large extent due to which the chain became highly congested as the users were unable to access their wallets. With this, the TON fees reached a new All-Time high driven by a surge in on-chain activity as the users rushed to claim their HMSTR rewards.
Regardless of the network activity, the TON price appears to be unimpacted by the current market trend. The price triggered a bullish rebound from the lows close to $4.45 but remained consolidated below $6. However, the Toncoin price is breaking out beyond the range and hence is believed to enter the bullish range.
The TON price is trading very close to the crucial resistance at the 200-day MA, which is around $6.2. However, the technicals remain under bullish influence and hence a major breakout could be on the horizon.
The recent pullback caused the token to lose the pivotal support of the ascending triangle and compelled the price to mark the bottom. Nevertheless, the token triggered a strong rebound and seems that it may re-enter the pattern, aiming for a bullish breakout. The price is trading between the 50-day & 200-day MA levels, which are acting as crucial support & resistance levels, respectively. Besides, the RSI remains incremental and surged above the range that has never visited since July 2024.
Therefore, the Toncoin price in the long term appears to be extremely bullish, as it is among the most traded coins within the market. The TON price looks promising as the technical indicators signal an imminent short-term rally. The Toncoin blockchain is the hottest chain in the world right now, but fears are growing that its close ties to Telegram could cause huge problems ahead, impacting the token as well.
The Toncoin (TON) price is moving in an upward channel and a surge is expected to mark a double-digit figure soon.