Tomochain (TOMO) has been on a surreal rally the past few weeks as the price of TOMO rallied from its low of $0.5 to a high of $2.5, making over 500% in just a few weeks despite the challenging crypto market that has affected many traders and investors.
The rally of Tomochain (TOMO) has become surprising for many traders as this crypto token began making waves in the market despite other crypto tokens suffering a decline in price as Bitcoin (BTC) continues in its price range within the region of $26,500 to $27,500.
Despite the fluctuation in the price movement of Bitcoin (BTC), the price of TOMO continues to show tremendous strength, holding above $1.2 as the price rallied from that region to a high of $2.5, with much speculation suggesting this rally is far from over for this Tomochain (TOMO) token.
Tomochain Lands More Partnership As Ecosystem Grows
Tomochain has continued to show wide adoption despite the prolonged bear market, as it has enjoyed great partnerships with the likes of Vietnam’s Ministry of Education to provide diplomas and qualification certificates to schools.
Other partnerships include a multichain bridge for easy interoperability to enable asset transfers from one chain to another. With much backing from top investors and companies in the blockchain space, the coin would be a huge asset in the coming bull run.
Is Tomocoin A Good Investment?
As bitcoin adoption rises over the coming years, TomoChain has incredible potential. According to our market projection, TOMO may hit a new record high of $12.36 by 2030.
Other Reading: 10 Undervalued Crypto Coins To Invest In 2023 For 100X Gain
TOMO Price Analysis For Today
The price of TOMO has shown great price action as the price rallied from a low of $0.3, where it formed good support as the price ranged for some time before breaking above the weekly 50 Exponential Moving Average (50 EMA) as this region corresponds to $0.75.
The price of the Tomochain (TOMO) token has since maintained a strong rally to a high of $2.4, where the price was rejected on the weekly chart. With the price closing above $1.4, we could still see more rally to a high of $2.5 to $3 as many buy orders are placed for TOMO.
From the Fibonacci Retracement value, the price of TOMO could rise to a high of 70% Fib value, where the price could face more price resistance.
Price on the weekly chart looks strong for more rally to a high of $3 or more in the coming weeks.