Toncoin (TON) Price Has Surged, Driving Up Investor Profitability

Toncoin price has surged over the past few weeks, driving up investor profitability. According to Glassnode, the supply in profit has jumped by 23.8 percentage points

Key Insights:

* Toncoin price has seen a strong recovery in recent times, and this has driven up investor profitability. According to Glassnode, the supply in profit has jumped by 23.8 percentage points, with 94.1% of holders now in the green.

* However, even with these gains, Toncoin price remains 48% below its all-time high.

* Bollinger Bands indicate a low volatility period as the price is close to the upper band after falling back from resistance.

* A narrow range at the lower Bollinger Band around $3.168 was recently observed.

* Relative Strength Index (RSI) is in positive territory at 61.96, but signals that Toncoin is approaching overbought territory at 70.

* A positive CVD of 126.07K indicates that recently, there were higher buying pressures than the selling pressures.

* MACD indicators also support a bullish narrative. The MACD line sits above the signal line with a positive histogram, pointing to increasing buying strength.

Toncoin Price Action and Key Technical Indicators:

After falling back from the upper Bollinger Band, the price is currently at $4.218. Recently, the price was ranged in a narrow area around $3.168 near the lower Bollinger Band. A low volatility period is indicated by the Bollinger Bands, but the price could break out of the upper resistance band and reverse or break out if that happens.

Relative Strength Index (RSI) is at the 61.96 level a positive mark but signals that TON is approaching the overbought territory at 70. Although TON could climb, this could be followed by a pullback if the momentum turns.

According to the CVD, there is a positive 129.8K which means that recently, there were higher buying pressures than the selling pressures. This implies that a lot has been accumulated, and possibly this was the reason behind the price rise. If buying volume remains larger than selling then we could see TON push further towards the $14.50 resistance level.

MACD indicators also support a bullish narrative. The MACD line sits above the signal line with a positive histogram, pointing to increasing buying strength. While momentum has yet to establish a clear trend, a breakout could push Toncoin price toward the $14.50 resistance zone if volume follows through.

Toncoin’s Trading Volume and Supply Profits:

As seen in the chart above, Toncoin saw a rise in supply profits, with 94.1% of holders now sitting on unrealized gains. This percentage represents a 23.8pp increase in just 30 days, demonstrating growing investor confidence.

The positive sentiment in the market can be understood from the fact that more holders have gotten into a profitable zone as TON continues to gain momentum.

Similarly, Binance Coin (BNB) also witnessed similar gains while TON shipped quite nicely compared to numerous other assets in the perpetual market, as evidenced by the performance. More market participants might hold onto the assets, expecting further price growth, but these supply profits could become a key part in TON’s recovery.

With a 48% fall from its ATH, TON still experiences higher engagement and more active traders.

With this recovery and continuing volume, it appears the network’s growth and ecosystem development is on the right track.

Community and Strategic Focus for Toncoin’s Recovery:

According to market analyst Cryptowithkhan, the price decline from ATH doesn’