Toncoin (TON) has made a notable recovery over the past 24 hours, climbing by 5.26%. This rise comes after the altcoin entered what analysts are calling a “low-risk” zone, signaling potential for a price reversal. The latest movements suggest that Toncoin could be primed for a sustained rally as buying pressure intensifies.
Toncoin’s price saw an impressive upward momentum in the past three days, rising from a low of $4.70 to a high of $5.24. At the time of writing, the cryptocurrency was trading at $5.22, marking a 5.26% gain over the previous day. While Toncoin had been on a downward trajectory recently—down 2.5% weekly and 3.49% monthly—the recent uptick has revived market optimism, with analysts suggesting that Toncoin might be headed for a reversal.
Cryptoquant analyst Dark Fost has highlighted the return of buying pressure as a critical factor that could drive a further upside for Toncoin. With this in mind, many are wondering if this new momentum could lead to a more sustained reversal in the token’s price trend.
A key signal for Toncoin’s potential reversal is its entry into what analysts are calling a “buying zone.” According to data from CryptoQuant, the token’s normalized risk has dropped below the 0.2 threshold, placing it in a low-risk area for investors. Historical data has shown that every time Toncoin’s normalized risk reached this level, the market experienced a reversal, indicating that the token could be on the verge of another price shift.
The move into a low-risk zone has been accompanied by a positive shift in Toncoin’s Open Interest, which has moved from a negative value of over -$100 million to -$15 million. This transition signals that the bearish trend may be reversing, with the market moving toward a neutral or even positive stance. As a result, investor sentiment has turned increasingly optimistic, setting the stage for a potential price increase.
As Toncoin enters the low-risk zone, buying activity has started to pick up again. The price movement is being driven by a resurgence of buying pressure, which is pushing the price higher. Technical indicators such as the Relative Strength Index (RSI) have confirmed this positive trend, with a bullish crossover indicating that buyers are starting to outpace sellers. This suggests that momentum is building for a potential uptrend.
Additionally, Toncoin’s Moving Average Convergence Divergence (MACD) is on the verge of a bullish crossover, which would further validate the uptrend. If this crossover occurs, it would signal that the market is entering a sustained bullish phase, confirming that Toncoin’s price is likely to continue climbing in the short term.
While the price of Toncoin has been seeing some outflows, with the Spot netflow remaining negative for the past week, there is significant movement among large holders, or whales. The netflow for whales has spiked from -$12.67 million to $15.15 million, indicating a strong influx of capital as whales accumulate Toncoin. This increased interest from larger investors is often a bullish sign, suggesting that these holders expect the price to rise.
As buying activity continues to rise, Toncoin’s price could aim for new highs. If the current bullish momentum persists, the token may target the $5.83 mark before attempting to break through the $6 resistance level. However, the market remains volatile, and if the buying pressure falters, Toncoin could dip back to the $5.03 range.
Overall, Toncoin’s entry into the low-risk zone, coupled with increased whale activity and a shift toward positive momentum, points to a potential price reversal. Investors will be watching closely to see if the bullish trends continue, as Toncoin could be on the verge of a more significant rally.
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