Altcoins News
By Evie Vavasseur
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A Rocky Road to Recovery. After experiencing a significant pullback to $2.45, a key demand zone that last saw activity in…
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The Denial Phase: What’s Really Happening?. In market psychology, the denial phase is when investors refuse to accept signs of exhaustion in a…
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The Key Resistance at $3.93. For Toncoin to continue its bullish journey, it must overcome the $3.
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Whale Activity: The Elephant in the Room. The role of large holders, or whales, is a critical factor in Toncoin’s price action.
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What’s Next for Toncoin?. The big question now is whether Toncoin can break above the $4 resistance level or if it will face…
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Conclusion. Toncoin’s battle for the $4 level is far from over. While the cryptocurrency has shown impressive…
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Toncoin (TON) has been at the forefront of the crypto market recently, enjoying a sharp rally that has positioned it as one of the top-performing high-cap assets.
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After experiencing a significant pullback to $2.45, a key demand zone that last saw activity in March 2024, Toncoin has mounted an aggressive recovery.
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Despite these rejections, Toncoin has been on a steady upward trajectory, boasting a 19.54% rally over the past month alone.
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The latest data supports this. After Toncoin’s brief rally above $4, it faced a sharp sell-off, indicating that the resistance at $4 is more substantial than it may appear.
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This led to the liquidation of around $340 million in open positions, which pushed Toncoin’s price back down to around $3.80.
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For Toncoin to continue its bullish journey, it must overcome the $3.93 level, a significant supply zone. This level is crucial because 5.
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In total, 3.12 billion Toncoin could be at risk if the price fails to sustain bullish momentum. A failure to break above $3.
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This accumulation trend aligns with Toncoin’s recent breakout from the $3.35 consolidation range, signaling that there is strong buy-side interest in the asset.
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A move past the $4 resistance is becoming increasingly likely, especially given the recent increase in Open Interest (OI) in the derivatives market, which saw a 7.70% rise.
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