Toncoin (TON) Gains Momentum with Coinbase Ventures Backing: A Bullish Breakout Ahead?
Toncoin (TON) is showing strong potential for a bullish breakout as it consolidates between key moving averages, supported by a recent undisclosed investment from Coinbase Ventures. The TON Foundation's expanding list of institutional backers, including heavyweights like Sequoia Capital and Ribbit Capital, has further bolstered market confidence. Over the past 24 hours, long positions have surged by 1.72 percentage points, signaling growing Optimism among traders. A critical resistance level at $3.588, last tested earlier this year, now serves as a pivotal battleground for TON's next price movement. With strong institutional support and technical indicators aligning, Toncoin could be poised for a significant upward trajectory in the coming weeks.
Toncoin (TON) Eyes 200-EMA Breakout Amid Coinbase Ventures Backing
Toncoin's consolidation between key moving averages sets the stage for a potential bullish breakout, fueled by Coinbase Ventures' undisclosed investment. The TON Foundation's growing roster of institutional backers—now including Sequoia Capital and Ribbit Capital—coincides with a 1.72 percentage point surge in long positions within 24 hours.
Market structure reveals a critical battleground at $3.588, last tested in early August. A decisive close above this level could propel TON toward April's $4.211 high, though the asset's -5 Sharpe Ratio warrants caution. The 100-200 EMA squeeze mirrors Wednesday's 3.5% flash rally, suggesting accumulating pressure for resolution.
Cosmos (ATOM) Surges 16% Weekly as Coinbase Support Drives Bulls to $4.70
Cosmos (ATOM) has rallied sharply over the past week, climbing 16% to $4.70 amid growing institutional interest. The surge follows Coinbase's endorsement of the Cosmos ecosystem, including plans to list COSMOSDYDX and support native dYdX integration. This institutional validation has fueled bullish momentum, with ATOM breaking through key resistance at $4.34 on August 7th.
Trading volumes spiked during the breakout, signaling genuine demand rather than speculative froth. Even a brief dip to $4.13 on August 6th was quickly reversed, underscoring strong underlying support. The Relative Strength Index at 55.44 suggests room for further upside as Cosmos benefits from broader market rotation toward decentralized platforms.
Interoperability remains Cosmos' standout feature in an era of economic uncertainty. The network's ability to connect disparate blockchain ecosystems positions it well for continued adoption as institutional players like Coinbase deepen their involvement.
