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Analyzing Toncoin's Price Decline and Potential Accumulation Phase 🔻
Toncoin, associated with Telegram, has seen a notable drop in price, currently trading at $3.89 after a 28% decrease in the last month. This decline has led Toncoin to a historic low, indicating a possible accumulation phase for long-term investors. CryptoQuant analyst Joao Wedson highlights that Toncoin's Normalized Risk Metric (NRM) is at historically low levels, signaling a buying opportunity for investors. The NRM compares an asset's current price to weighted moving averages, suggesting undervaluation when at low levels. With Toncoin's NRM at its lowest in both medium and long terms, it presents a low-risk accumulation zone. Additionally, the altcoin's Market Value to Realized Value ratio confirms its undervalued status. Despite a recent 1% price increase, Toncoin's future value hinges on investor accumulation. If support strengthens, the price could rise to $4.17 and potentially reach $4.96. However, failure to accumulate may lead to a drop to $2.91.
$TON
$BTC
$SOL
#TokenReserve #tonecoin #Toncoin #news #BinanceNews
Toncoin, associated with Telegram, has seen a notable drop in price, currently trading at $3.89 after a 28% decrease in the last month. This decline has led Toncoin to a historic low, indicating a possible accumulation phase for long-term investors. CryptoQuant analyst Joao Wedson highlights that Toncoin's Normalized Risk Metric (NRM) is at historically low levels, signaling a buying opportunity for investors. The NRM compares an asset's current price to weighted moving averages, suggesting undervaluation when at low levels. With Toncoin's NRM at its lowest in both medium and long terms, it presents a low-risk accumulation zone. Additionally, the altcoin's Market Value to Realized Value ratio confirms its undervalued status. Despite a recent 1% price increase, Toncoin's future value hinges on investor accumulation. If support strengthens, the price could rise to $4.17 and potentially reach $4.96. However, failure to accumulate may lead to a drop to $2.91.
$TON
$BTC
$SOL
#TokenReserve #tonecoin #Toncoin #news #BinanceNews
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