Toncoin ($TON is showing strong signs of recovery after a sharp drop in value two weeks ago, and it’s now climbing back up the ranks.
Toncoin’s Price on the Rise
Toncoin has been trending upward, reaching $5.77 on September 13, a 3.5% increase from its recent low.
Though not back to its all-time high, this upward movement signals a solid recovery. The RSI also points to growing buying interest, suggesting further potential gains.
Back in the Top 10
Toncoin’s market cap took a hit, dropping from $17 billion on August 24 to $11.5 billion by September 5, pushing it out of the top 10. But the recent price surge has reversed that.
Now, with a market cap of over $14.5 billion, Toncoin is once again the ninth largest cryptocurrency. In the last week alone, it has grown by more than 25%.
Investors Start Seeing Profits
During Toncoin’s decline, investors faced losses, with the MVRV ratio sinking to -18%. Now, with the price rebound, the MVRV stands at 6.2%, meaning investors are back in profit.
Positive Outlook Ahead
With rising prices, improved market cap, and technical indicators pointing to strong buying pressure, Toncoin seems to be back on track. Investors are seeing gains, and the market outlook looks bright for Toncoin’s near future.
