馃殌馃搱 Toncoin Price to Benefit From 77% of TON Holders Maturing
馃毃 Toncoin鈥檚 Downtrend
Toncoin (TON) price has struggled with a downtrend over the past four months, with several recovery attempts falling short. However, current market signals suggest a potential shift, as medium-term holders (MTH) appear to be influencing the price action, possibly marking a turning point.
馃搳 Growing Investor Confidence
Market sentiment for Toncoin shows signs of stability, with short-term holders (STH) gradually transitioning to medium-term holders (MTH). Over the last two months, MTH dominance grew by 32%, with 77% of TON addresses now holding for over a month. This shift reflects greater confidence and commitment, supporting price stability.
馃搱 Reduced Volatility
A larger portion of MTH can reduce volatility, as these holders are less reactive to minor price swings. This extended holding period could help create a steadier price foundation, improving Toncoin鈥檚 chances for sustained upward momentum.
馃殌 Bullish Sentiment
Toncoin鈥檚 positive Funding Rate indicates that traders are betting on price gains. A positive rate shows traders paying a premium to maintain long positions, signaling optimism in TON鈥檚 potential rise. This bullish sentiment could further drive Toncoin鈥檚 efforts to break out of its downtrend.
馃攳 Key Price Levels
Currently, TON trades at $4.91, aiming to establish $4.86 as solid support. Holding above this level is crucial to maintain upward momentum. Breaking above $5.37 would confirm a breakout, increasing the likelihood of a rally toward $6.00. However, a drop below $4.86 risks a slide to $4.61, potentially invalidating the bullish outlook.
