Toncoin is experiencing a significant recovery with a remarkable 376% increase in whale transactions. This shows that big players' interest in Toncoin is increasing.
Latest data reveals Toncoin's bullish momentum based on technical indicators and price chart analysis. It is observed that there has been a significant increase in whale activity, with a 376% increase in large transactions in the last 24 hours. This increase is evident with 359,000 TONS changing hands in nine large transactions. This increased interest among major investors is considered a positive sign for the asset's potential market performance.
Within a week, whale transactions reached 32 on July 6, 2024. Although major transactions fell to three on July 7, 2024, momentum quickly recovered, demonstrating strong market confidence. The accumulation of high volume transactions on consecutive days indicates strategic asset acquisition in advantageous market conditions.
Technical analysis supports Toncoin's uptrend, with the asset currently trading at $7.28, up 32%. Throughout recent sessions, the price has fluctuated between $7.09 and $7.38. Major support levels at $7.16 and resistance levels near $8.00 indicate potential paths for more gains, especially as long as the price remains above key moving averages.
Both the 50 EMA and the 200 EMA are trending upwards, reinforcing the positive outlook for Toncoin. Additionally, the Relative Strength Index (RSI) remains in a positive position, indicating that the asset is not currently in the overbought zone. The alignment of these technical indicators reinforces the prospect of continued growth, driven in part by increased whale activity.
The whales' mass buying pattern shows their confidence in Toncoin's future market performance. In the last day, the total volume of major transactions reached 359,000 TONS, and the highest volume in the last seven days was 962,000 TONS. This apparent accumulation trend is evidence that whale investors are using the current market conditions to strengthen their positions in Toncoin.
In conclusion, the massive increase in Toncoin whale transactions and positive technical indicators highlight a strong recovery trajectory. This increased activity not only indicates strong market interest but also positions Toncoin for potential further gains. Investors should consider these developments and the alignment of technical trends as an indication of Toncoin's promising short-term outlook.
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