- So, Toncoin is having a little moment, testing its breakout above a bullish triangle, all thanks to Pavel Durov’s glamorous leave to Dubai. Because who doesn’t love a good vacation story?
- Even though the price is playing hard to get, on-chain metrics are whispering sweet nothings of renewed optimism among traders. Could a breakout be on the horizon? Stay tuned!
In the last 24 hours, Toncoin [TON] has decided to strut its stuff with a 3.04% price increase and a whopping 20.83% jump in trading volume. Talk about a glow-up! 💁♀️
This little surge comes right after our favorite Telegram founder, Pavel Durov, returned to Dubai, courtesy of the French authorities granting him a leave. Because, obviously, who wouldn’t want to escape to the sun?
Now, this coin has been testing its breakout above a bullish ascending triangle, but alas, it faced a temporary rejection. As network activity rises, traders are left wondering if a rally is just around the corner. Spoiler alert: it probably is! 🎉
Toncoin’s Price Action and Technical Indicators
Peeking at the 1-hour chart, TON is currently in an ascending bullish triangle formation, trading at a fabulous $3.567. Not too shabby, right?
Our altcoin darling has made its third attempt to break above the $3.60 resistance zone, but it seems like it’s playing coy with a temporary rejection. Consolidation is the name of the game, folks!
If it finally decides to break out above this bullish pattern, we could see TON strutting its way to $3.90, which was a previous key resistance level. Fingers crossed! 🤞
Toncoin’s Relative Strength Index (RSI) is sitting pretty at 58, indicating some serious buying pressure. Meanwhile, the MACD (12) and moving averages are practically screaming ‘buy’! 📈
However, the long-term moving averages are giving off ‘sell’ vibes, and the Average Direction Index (ADX,14) is just chilling in neutral territory. So, we need some serious buying pressure to break that pesky $3.60 resistance and kickstart TON’s uptrend rally.
A Look into the On-Chain Insights
According to Coinglass, Toncoin’s Open Interest has risen by 10.55% in the past 24 hours, and its Open Interest (OI) Weighted Funding Rate has turned positive. This is like a confidence boost for investors, all thanks to our man Pavel Durov!
His thoughts on freedom, leadership, and his connection with the TON network could really amp up investors’ long-term conviction. Who knew a vacation could be so impactful? 🌴
As of now, Toncoin has seen a 6.75% surge in active addresses over the past 48 hours, according to Artemis. The Total Value Locked (TVL) is also on the rise, showing that investors are feeling optimistic. Can we get a round of applause? 👏
IntoTheBlock reports that the total exchange netflow in the past week is at $46.23K, hinting at a slight sell-off. And guess what? Most TON holders are large-scale investors. Talk about a power move!
In the last 48 hours, we’ve seen a surge in exchange outflow, signaling whale accumulation. The trading volume is rising, and it’s all very exciting! 🐋
TON might just be eyeing a breakout as investors set their sights on long-term gains, especially with Pavel Durov’s anticipated freedom and leadership. Who knew crypto could be so dramatic?
Traders, keep your eyes peeled for Toncoin’s movements within that ascending triangle pattern and whale activity. A breakout could send us soaring toward $3.90, while a breakdown might lead to a mid-term
Read More
- Invincible Season 4: What We Know About Release Date and Plot Speculation!
- KAS PREDICTION. KAS cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- ATOM PREDICTION. ATOM cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- EUR JPY PREDICTION
- USD RUB PREDICTION
- IMX PREDICTION. IMX cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
2025-03-19 21:16