|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Toncoin (TON) Price Prediction 2024-2025: Is TON Positioned for Another Breakout?
Oct 10, 2024 at 05:00 pm
Toncoin [TON] has taken the crypto world by storm, growing its holder base from 4.3 million at the beginning of 2024 to a staggering 100 million currently.
Toncoin [TON] has seen a remarkable surge in popularity, expanding its holder base from 4.3 million at the start of 2024 to an impressive 100 million at present. This rapid increase in holders has been accompanied by a corresponding surge in trading volume, signaling strong market interest.
At press time, TON was trading at $5.18, down marginally by 0.25% over the past day. In light of this, the critical question is whether TON can sustain this momentum and push forward into higher price ranges.
Examining TON’s technical indicators, the Relative Strength Index (RSI) was at 45.18, showing the market is just below neutral. This indicates a slightly oversold condition, suggesting that a rebound could be on the horizon.
However, the MACD (Moving Average Convergence Divergence) shows a slight bearish signal, as the histogram hovers just below zero, reflecting minimal momentum in either direction.
Consequently, traders are closely watching for a breakout signal to determine TON’s next move.
Daily active addresses provide another crucial insight into TON’s network health. At press time, 174 active addresses were recorded, down from 188 the previous day. This slight dip might suggest a temporary cooling-off period.
However, considering the massive increase in long-term holders, the broader network growth remains strong. Additionally, the influx of new users signals robust adoption, even if short-term activity fluctuates.
Interestingly, the updated long/short ratio reveals a more balanced sentiment. Currently, 53.45% of traders hold short positions, while 46.55% are long. Therefore, the long/short ratio stands at 0.8709, suggesting that bears still have a slight edge.
Moreover, the long/short ratio for TON has shifted slightly over the past day, with bears now holding a marginal advantage. This sentiment could potentially influence TON’s short-term price movements.
As a result, this balance indicates that the market could see volatility in either direction. Thus, traders should be prepared for sudden shifts in price, as the equilibrium between bulls and bears tightens.
Open interest has risen by 1.02%, with $232.72 million now invested in TON futures. This increase suggests growing speculation, as traders take leveraged positions expecting further price movements.
As volatility rises, the market could experience sudden and dramatic shifts.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.