👀 2 Reasons Why TON Price May Struggle To Reach $10


Toncoin (TON) is approaching the $6 mark after defending the $5 support, showing potential bullish momentum alongside altcoins like Ethereum (ETH) and Ripple (XRP). This follows a recent sell-off, and traders are eyeing opportunities to push TON to new highs beyond $10. However, resistance at $6.25 could limit this uptrend.

Blockchain data from IntoTheBlock indicates that 475 addresses bought around 129,000 TON between $5 and $5.17, strengthening support at $5. Bulls are capitalizing on this liquidity to drive the recovery. Despite current momentum, resistance from 1,060 addresses holding 1.64 million TON could hinder further gains if they sell at breakeven.

Toncoin's network activity, including new and active addresses, has declined over the past month. Active addresses dropped from 733 to 532, suggesting limited bullish momentum. However, the TON price has reclaimed the 200-day EMA at $5.16, and the Money Flow Index (MFI) indicates growing bullish interest.

Traders may favor long positions if $TON rebounds from the 200-day support. Breaking resistance at $6-$6.25 could trigger a rally towards $8 and potentially $10. Failure to breach $6 might lead to profit-taking, with traders buying again at $5 support. A death cross pattern on July 25 could increase downward pressure, potentially pushing the price to the $3.5-$4 range.