In the world of cryptocurrency where competition is stiff, Toncoin (TON) and Render token (RNDR) compete to hit the $10 mark by 2024, both of them being Ethereum tokens that employ blockchain to change lives.
Here’s a look at how they have fared in market terms as well as technical analysis on possible growth paths. This article delves into their market performances, technical analyses, and growth potential.
- Toncoin: Transforming DeFi with Ethereum
- Overview: Toncoin plays a pivotal role in decentralized finance (DeFi) by utilizing Ethereum’s smart contract capabilities.
- Market Performance: Priced at $7.56 with a 6.42% increase in the last 24 hours.
- Market Cap: Approximately $18.4 billion, ranking 9th globally.
- Circulating Supply: 2,432,807,553 tokens; reached an all-time high of $7.78 on June 5, 2024.
Also read: BlockDAG Outshines Dogecoin Volatility & Toncoin Garners – Aims To Hit $20 By 2027
- Render: Revolutionizing Rendering Services
- Overview: Render aims to decentralize rendering processes, enhancing accessibility to cloud computing and rendering services.
- Market Performance: Currently trading at $8.68, with a slight decrease of 1.82% in the past day.
- Market Cap: $3.37 billion, positioned 28th among cryptocurrencies.
- Circulating Supply: 388,646,672 tokens; peaked at $13.60 on March 17, 2024.
Crypto Price Prediction-
Toncoin demonstrates robust bullish signals across technical indicators:
- Technical Analysis: EMAs show buy signals from 10-day to 200-day, indicating positive market sentiment.
- MACD and RSI: MACD level of 0.27 signals a bullish trend, RSI at 63.30 indicates strong buying activity.
- Resistance and Support Levels: Faces resistance at $7.22 and $7.90, with support around $6.13.
Render faces challenges but shows potential:
- Technical Landscape: Short-term EMAs suggest sell signals, but the 200-day EMA provides a buy signal for potential recovery.
- MACD and RSI: MACD level at -0.331 indicates bearish sentiment, and RSI at 41.036 suggests nearing oversold conditions.
- Resistance and Support Levels: Resistance at $11.60 and $12.80, support at $9.63.
Which Ethereum Cryptocurrency Will Reach $10 First?
Toncoin appears poised to reach $10 ahead of Render token:
- Strengths: Strong technical performance, bullish market indicators, and established DeFi role.
- Challenges: Render must navigate the technical landscape and overcome resistance levels to catch up.
- Investor Advice: Monitor market developments closely; Toncoin’s current trajectory suggests it may hit $10 first.
Also read: Spot Ethereum ETF To Go Live On July 15, 2024 – What Will Be Its Effect On The Market?
The Toncoin vs Render debate highlights the dynamic nature of blockchain technology within the Ethereum ecosystem. While both tokens offer unique contributions to DeFi and digital content creation, Toncoin’s current technical strengths position it favourably for reaching the $10 milestone in 2024. Investors should consider these factors when evaluating opportunities within the evolving cryptocurrency market landscape.
That’s all for today! See you soon with more exciting updates, only at ReadingCrypto!
Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
