This Is How Toncoin’s 7% Rise Could Lead to $4 Billion in Profits – analysis by BeInCrypto
Toncoin’s (TON) price has seen relative stability in recent price action, holding firmly above the $5.49 support level. However, for true recovery and significant growth, TON needs to flip the $5.96 resistance into support.
Only after crossing this threshold can TON unlock its potential to deliver substantial profits to investors.
Toncoin is on the verge of a major profit breakthrough, potentially bringing billions of dollars into the market. Data from the Global In/Out of the Money (GIOM) indicator reveals that around 773 million TON tokens, worth approximately $4.2 billion, were purchased between the price levels of $5.41 and $5.94. If TON manages to break past the $5.96 mark, the entire supply purchased within this range would turn profitable.
This surge in profitability could lead to increased bullish sentiment, as investors who have been holding Toncoin for an extended period would be incentivized to maintain their positions. This scenario could further drive up demand, pushing Toncoin’s price higher as more investors enter the market to capitalize on potential gains.
Given the current sentiment, Toncoin is expected to continue consolidating between $5.49 and $5.96. This sideways movement will likely delay any breakout above the upper limit, potentially keeping the token in its current range for a while.
However, if bullish momentum overtakes bearish sentiment, Toncoin could breach the $5.96 barrier. This move would trigger profits for holders of the $4 billion worth of TON supply bought between $5.41 and $5.94, thus invalidating the bearish-neutral outlook and setting the stage for further gains.
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