The price of Toncoin (TON) is recovering from a recent drop and looks poised for a rebound.
If TON investors seize this chance to increase their holdings, a recovery could soon be underway.
Potential Recovery for Toncoin Despite expectations of a rally last week, Toncoin’s price deviated after dropping from a descending channel, stabilizing between $5.2 and $5.4, which now serve as resistance levels.
Investors could influence a positive change by accumulating more TON. The Market Value to Realized Value (MVRV) ratio, which tracks investor gains and losses, suggests that the altcoin is warming up due to recent developments. Currently, Toncoin’s 30-day MVRV is at -13.22%, signaling losses, but this places it within a historical accumulation zone typically ranging from -10% to -20% MVRV.
This accumulation could trigger increased demand, potentially boosting Toncoin’s price.
Market Sentiment Shifts for TON The market’s sentiment is shifting, evidenced by the Moving Average Convergence Divergence (MACD) nearing a bullish crossover—a sign often interpreted as an increase in market valuation of TON.
If the MACD confirms a bullish crossover, it could signify the start of a price recovery and rally.
What’s Next for TON Price? Currently trading at $5.2, just below the $5.4 resistance, breaking this barrier could herald a bullish trend. Historically, this resistance has been pivotal.
Recently, TON has neither broken this level nor fallen further, showing resilience that could lead to increased investor support and a potential price rise to $6.
Conversely, if TON fails to break through and starts correcting, it might test the $4.7 support level. Losing this crucial support could negate bullish predictions and extend losses for TON holders.
