Toncoin (TON) has reached a critical turning point as it approaches a key trend line resistance, increasing speculation among traders regarding the future price movement.
Recent on-chain data shows an increase in whale activity and active address numbers, indicating a strong bullish sentiment among investors.
According to IntoTheBlock’s data, the statements “Large transactions increased by 110% in the last 24 hours” reveal that the interest of large investors in Toncoin has increased significantly. This shows that whales see significant potential for Toncoin and strengthens the possibility of a breakout in the future.
The latest data from IntoTheBlock shows a notable increase in Toncoin transactions by high-net-worth investors. The 110% increase in large transactions in the last 24 hours indicates that demand for Toncoin is reviving and is being followed by major players in the market. Such increases are usually the precursor to bull markets and reflect investors’ confidence in Toncoin’s growth potential.
The increased whale activity suggests that major players are taking action to position for market movements in the near future, which is in line with a broader market volatility trend. This increased trading volume and whale participation could help Toncoin gain the momentum needed to break out of the current resistance level.
The increase in whale activity has also led to a significant increase in Toncoin’s active addresses. Recent data shows a 14% increase in active addresses. This indicates an increase in interest in the Toncoin ecosystem and increased user engagement. Furthermore, 72% of Toncoin addresses are currently profitable, indicating that investor sentiment is positive and reflects strong dynamics in the market.
However, some investors may sell in order to realize their profits, which could lead to a potential price pullback. This should be taken into consideration as it could cause market volatility.
From a technical perspective, Toncoin is approaching a critical trendline resistance on the daily charts. These levels have historically played a significant role as turning points and therefore present a big decision moment for investors and traders. If this resistance level is successfully broken, Toncoin price could reach the expected $7 level, reinforcing the bullish view supported by recent data.
However, if Toncoin fails to break above this resistance, the market may experience pullbacks, with $6.02 standing out as the first support point. As this critical level approaches, investors will carefully monitor price action and determine their strategies.
