These 2
Crucial Factors Could
Drive Toncoin (
TON• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ton)
to $6
Toncoin (TON• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ton) has faced challenges in breaching the $6.00 barrier, leading to
an 11% decline in the altcoin s price.
The Telegram-linked cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта is now trading at $5.36 and attempting to
reclaim a crucial support level.
Toncoin Sees Hope
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One key factor affecting Toncoin’s market sentiment is the percentage of
investors in profit. Observing the active addresses by profitability, it is
evident that less than 3% of the participating investors are currently in
profit.
Typically, a higher number of profitable investors would be prone to selling,
which could trigger a price decline. However, the fact that there are so few
profitable holders means the selling pressure is low, which is a bullish sign
for Toncoin.
The lack of profit-taking suggests that investors may be holding on to their
positions, expecting a future rally. This creates a supportive environment for
Toncoin, reducing the likelihood of sudden drops and potentially allowing the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта to regain its lost ground.
Read more: What Are Telegram Bot Coins?
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Toncoin Active Addresses by Profitability. Source: IntoTheBlock
From a macro perspective, technical indicators are starting to show signs of
recovery. The Chaikin Money Flow (CMF) indicator, which tracks the flow of
money in and out of the asset, has bounced back from the zero line. This
suggests that inflows into Toncoin are making a comeback, a crucial factor for
the altcoin’s price recovery.
A sustained inflow of capital could help bolster Toncoin’s market position ,
indicating that investors are regaining confidence in the asset. The return of
positive momentum, reflected in the CMF, is a sign that bullish pressure is
starting to build, making it possible for Toncoin to push past its resistance
levels. Toncoin CMF. Source: TradingView
TON• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ton Price Prediction: A Steady Rise
Toncoin is currently attempting to reclaim the $5.37 level as support.
Successfully flipping this level is essential for the asset to attempt a rise
toward $5.96, a key resistance point. Breaching this level would leave only
the $6.00 barrier standing between Toncoin and a stronger upward rally.
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The current market and macro factors support the possibility of Toncoin
breaching $5.96, provided it can maintain its bullish momentum over the next
few days. A steady inflow of capital and the low selling pressure create a
favorable environment for recovery.
Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners Toncoin
Price Analysis. Source: TradingView
However, any profit-taking by investors following the flip of $5.37 into
support could disrupt the bullish momentum. This could keep Toncoin subdued
under the $6.00 mark, delaying its potential for further gains.
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