Toncoin (TON) is about to make a major price move with the indicator flashing green

Toncoin (TON) is about to make a major price move with the indicator flashing green
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.

Tonquin (tons) It could be on the verge of a major price rise, according to a recent analysis by CryptoQuant. The leading indicator indicates that TON is entering a low-risk phase, which could represent an opportunity for strategic accumulation, CryptoQuant male In her last tweet.

TON's Standardized Risk Rating (NRM), in the medium and long term, is approaching the blue zone. This measure is calculated by comparing the current price with exponential moving averages (SMA 50 and SMA 374 days), which are then adjusted for risk changes using logarithmic factors.

Related to

Toncoin (TON) Surges 104% on Whale Moves Amid Short Positions Liquidated in Market

When the NRM turns blue, it may indicate that the asset is in an attractive price zone to buy. In these areas, the market is often in an accumulation phase, which usually precedes significant upward movements. This indicates a period of low risk, and based on historical data and observed patterns, these periods of lower exposure often precede new upward price movement.

Other Toncoin metrics are flashing higher. In a recent report, CryptoQuant highlighted that the new adoption rate of the TON blockchain has risen again as more new users join the network. This represents an increase in the number of new addresses making their first transactions, indicating that the TON ecosystem is growing and attracting new users daily.

Ton price movement

Tonquin It has been trading in a wide range since late August. Bulls revived the price rally in late November, pushing the ton to highs of $7.20 by early December. The price eventually fell, with TON returning to its previous range.

Related to

Toncoin (TON) Surges 94% on Whale Moves Amid $482 Million Market Sell-Off

At the time of writing, TON is up 1.93% over the past 24 hours to $5.63, reflecting the overall recovery of the cryptocurrency market after a major sell-off earlier in the week.

Toncoin started to rally after hitting support at the lows of $4.99 on January 13, and is now on track to see three out of four days in the green since then.

Moving higher, a decisive break above the daily 50 SMA at $5,883 could start a new bullish move for Toncoin, with targets at $6 and $7, or possibly higher.

On the other hand, support lies within the range of $4.50 and $5 in case the price declines. The daily RSI near the midpoint also indicates that TON may consolidate for some time in the short term before making its next major move.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *