Can the Volatility Golden Cross Push TON to $14?
When we analyze the 1-month volatility data of TON, an intriguing "golden cross" signal stands out. Let’s dive into the details of this phenomenon.
What Do the Data Show?
The chart highlights three key metrics:
Purple Line: TON price
Green Line: Short-Term Moving Average (STH MA - volatility)
Pink Line: Long-Term Moving Average (LTF MA - volatility)
The crucial moment occurs when the short-term MA crosses above the long-term MA, signaling a potential price movement.
A Look Back: February 12, 2024
The first instance of this golden cross occurred on February 12, 2024. Following this signal, TON experienced a significant surge in volatility, leading to a staggering 243% price increase in just 54 days. This highlights the potential strength of such volatility-driven signals.
The Present: November 6, 2024
A similar golden cross reappeared on November 6, 2024. Shortly after, realized volatility began rising again, and TON’s price climbed by 35% in 18 days, moving from $4.60 to $6.20.
What’s Next for TON?
While this 35% rally is impressive, historical data suggest it might just be the beginning. Based on Fibonacci retracement levels and past performance, TON could potentially see a 200% increase, reaching a price range between $12 and $14.
Of course, past performance is no guarantee of future results, but on-chain data points to an exciting potential scenario for TON.
Thank you for reading!
Written by burakkesmeci
