Toncoin: The 15% Rally That Will Make You Laugh and Cry! 😂💰

TON’s ADX stood at 18, which is about as strong as a wet noodle at a spaghetti contest! 🍝
On-chain data revealed that exchanges witnessed an outflow of $2.34 million worth of TON. That’s a lot of dough! 💵

In a world where market uncertainty reigns supreme, Telegram’s Toncoin [TON] is strutting around like it owns the place! 💃

It’s showing off some bullish price action on the hourly time frame, just as the overall crypto market is trying to get its act together. Talk about timing! ⏰

Current price momentum and technical analysis

At the moment, TON is trading near $3.35, having jumped over 3.5% in the last 24 hours. But wait! Its trading volume dipped by 14%—looks like traders are playing hard to get! 😏

According to AMBCrypto’s technical analysis, TON has developed a textbook ascending triangle pattern. No, it’s not a new yoga pose, but it’s a historically bullish indicator! 🧘‍♂️

If this asset breaks out of its pattern and closes a candle above the $3.37 level, it could surge by 7% to reach $3.60. That’s like finding a $20 bill in your old coat! 💸

And if the bullish momentum keeps rolling and TON closes a daily candle above the $3.40 mark, we might just see a 15% price rally! Hold onto your hats, folks! 🎩

But wait! Despite all this bullish action, TON’s Average Direction Index (ADX) is at a whopping 18. That’s like saying, “I’m strong!” while lifting a feather! 🪶

Traders’ bullish outlook

Looking at the bullish outlook, traders and investors seem to be on the same page, as reported by the on-chain analytics firm Coinglass. It’s like a crypto love fest! ❤️

Traders betting on the long side are dominating, and they seem over-leveraged at the $3.184 level, holding $1.50 million worth of long positions. That’s a lot of confidence—or a lot of wishful thinking! 🤔

Meanwhile, at $3.40, we have another over-leveraged level, where traders are holding $900K worth of short positions. It’s like a game of chicken, and nobody wants to blink! 🐔

$2.34 million worth of TON outflow

Apart from the daily trading shenanigans, long-term holders and investors are also getting in on the action, accumulating TON tokens like they’re going out of style! 🛍️

Data from spot inflows/outflows shows that exchanges have seen an outflow of $2.34 million worth of TON coins. That’s a lot of crypto love being spread around! 💖

So, it looks like the crypto bulls are rallying behind TON, and they might just drive this asset’s upcoming rally. Buckle up, it’s going to be a bumpy ride! 🎢

2025-03-03 11:07

Current price momentum and technical analysis

Traders’ bullish outlook

$2.34 million worth of TON outflow

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