$TON 's next move - How whales can and cannot keep TON bullish - AMB Crypto Analytics

Despite a recent crypto market downturn, Toncoin (TON) has shown resilience, with a slight recovery in the last 24 hours. Currently, TON is trading at $5.39 with a market cap of over $13.6 billion. However, only about 12% of TON addresses are in profit, indicating that many investors are still facing losses.

Recent data suggests that selling pressure on TON is increasing, as evidenced by a rise in exchange supply and exchange inflows. Additionally, a drop in the long/short ratio indicates more short positions, suggesting a bearish outlook. Yet, the supply held by top addresses has increased, showing confidence from major holders.

While the MACD indicator displays a bearish trend and the RSI is flat, the Chaikin Money Flow (CMF) has shown an uptick, hinting at potential support for the bulls. However, TON's future remains uncertain amid mixed signals.