Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,455)
  • Analysis (1,638)
  • Bitcoin (2,227)
  • Blockchain (1,316)
  • DeFi (1,539)
  • Ethereum (1,508)
  • Event (56)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,583)
  • Press Releases (2)
  • Reddit (877)
  • Regulation (1,480)
  • Security (2,106)
  • Thought Leadership (3)
  • Videos (41)
Hand picked
  • Dexs captures almost 30% of the CEX Spot activity in June, establishing a new record
  • Update: received my money back from Celsius after 2-3years
  • Robinhood announces a new layer 2 blockchain 2
  • Solana Rival following herself for major outperformance after correction, according to the CEO of Real Vision, Raoul Pal
  • Bitwise’s ETF ETF hits the speed of regulatory slowdown
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Altcoins»Next up for Toncoin: How whales can and can’t keep TON rising
Altcoins

Next up for Toncoin: How whales can and can’t keep TON rising

September 1, 2024No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Why Toncoin Might Turn Bearish.webp.webp
Share
Facebook Twitter LinkedIn Pinterest Email


  • Market sentiment around the token has improved over the past few days.
  • Whales showed confidence in TON as they increased their accumulation.

The cryptocurrency market has recently experienced a major setback, causing the prices of most cryptocurrencies to plummet. However, Toncoin (TON) seemed to perform better than the others, as he managed to paint his daily chart green.

But will this trend continue? Let’s find out.

Toncoin becomes green again

CoinMarketCap data Toncoin price has dropped by more than 5% in the last seven days. But things have improved in the last 24 hours as the token appeared to be recovering.

At the time of writing, TON was trading at $5.39 with a market cap of over $13.6 billion, making it the 9th largest crypto.

Price volatility has led to losses for the majority of TON investors. AMBCrypto’s analysis of IntoTheBlock data revealed that only over 6 million TON addresses were in profit, which represented just over 12% of the total number of TON addresses.

Source: IntoTheBlock

The price increase over the past 24 hours has had a positive impact on the token’s sentiment. According to our analysis of Santiment’s data, TON’s weighted sentiment has improved significantly.

This indicates that bullish sentiment towards it has increased in the market.

However, its social volume remained low, reflecting a decline in its popularity.

TON's social volume has droppedTON's social volume has dropped

Source: Santiment

Will TON remain bullish?

AMBCrypto then checked other datasets to determine the chances of TON remaining bullish in the coming days. According to our analysis, the selling pressure on the token has increased, which could push its price lower.

This was demonstrated by the increase in supply on stock markets and the decrease in supply outside of stock markets. The fact that investors were selling TON was also demonstrated by the increase in its inflow into stock markets.

TON supply held by major addresses has increasedTON supply held by major addresses has increased

Source: Santiment

Apart from this, TON’s long/short ratio has also decreased, according to Coin glassThis suggests that there were more short positions in the market than long positions.

Nonetheless, big players in the crypto space had faith in TON as the supply held by major addresses increased.

Additionally, our analysis of Hyblock Capital data revealed that Toncoin’s whale/retail delta had a value of 99.49. A value closer to 100 is bullish as it indicates that whales have longer exposure to the market.

Source: Hyblock Capital


Is your wallet green? Find out TON Profit Calculator


With whales showing confidence in TON, AMBCrypto then checked the token’s daily chart. The MACD technical indicator showed a bearish edge over the market. The Relative Strength Index (RSI) moved sideways, hinting at a price decline.

However, the Chaikin Money Flow (CMF) supported the bulls by registering an increase.

YourcoinYourcoin

Source: TradingView

Next up: Solana at $110? This 6-month model could be the key…



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleFamed Futurist Marcie Jastrow Joins Venice International Film Festival
Next Article 3 Reasons Why Your First Purchase in September Should Be Playdoge and Mpeppe (MPEPE)

Related Posts

Altcoins

Solana Rival following herself for major outperformance after correction, according to the CEO of Real Vision, Raoul Pal

June 30, 2025
Altcoins

The eyes of a bracing token $ 50 new ATH while Perps Trading reaches 1.571 Billion of dollars in volume – is that the break?

June 30, 2025
Altcoins

Is the XRP gear for a break? – These measures say yes, only if …

June 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Philippine Blockchain Week 2025 Welcomes Global Web3 Trailblazers to Manila

June 9, 2025

Manila, Philippines – June 9, 2025 — As Philippine Blockchain Week (PBW) 2025 returns for…

Event

ETHMilan 2025 Returns With a Stellar Line-Up at One of Milan’s Most Iconic Venues

June 5, 2025

Milan, Italy – Mark your calendars! ETHMilan, Italy’s largest international Ethereum and Web3 conference, is…

1 2 3 … 49 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Solana Rival following herself for major outperformance after correction, according to the CEO of Real Vision, Raoul Pal

June 30, 2025

The eyes of a bracing token $ 50 new ATH while Perps Trading reaches 1.571 Billion of dollars in volume – is that the break?

June 30, 2025

Is the XRP gear for a break? – These measures say yes, only if …

June 30, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 107,162.71
ethereum
Ethereum (ETH) $ 2,489.87
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.24
bnb
BNB (BNB) $ 657.22
solana
Solana (SOL) $ 155.19
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.280258
dogecoin
Dogecoin (DOGE) $ 0.165264
staked-ether
Lido Staked Ether (STETH) $ 2,487.79