17% planned after the rally was interrupted
Toncoin (Ton) price is looking at a possible short-term increase due to volatility.
Investors are bracing for a possible rise in tonnage prices to recover recent losses.
Toncoin is turning bullish again.
The price of Toncoin will witness a rebound based on the actions of the investors. After weeks of declines, it seems that tons of owners are bracing for a price hike with their HODLing behavior.
Average coin age measures the average age of all coins circulating in a cryptocurrency network, providing insights into hodling patterns and market dynamics. The tendency in this dimension is that investors lean towards HODLing.
A decline, on the other hand, means investors are moving their holdings around addresses. This is a sign that conviction rates are low, which has been true in the last couple of days ton. But the scale is now noticing a tilt, which means Toncoin's price could benefit from volatility.
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Further proof of this possibility is the price difference between the Daily Average Addresses (DAA). This indicator compares the average number of addresses to the cryptocurrency with the price movement and shows the possible discrepancy between the network activity and the market estimate.
Currently, price DAA divergence is flashing a buy signal considering the increase in price and participation. If investors move to collect Toncoin, the price of Toncoin may soon climb the charts.
Tonne Price Forecast: A Rally Awaits?
The price of Toncoin, trading at $5.9 at the time of writing, has been moving downwards, entering a descending channel for the past few days. Given the volatile position of investors, it seems likely that the ton will escape this channel.
A potential break above the upper trend line would indicate a possible 17.77% rally for the ton. This means that the altcoin needs to breach the $7.0 resistance line, which could send it to the $7.8 target.
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But before the rise, if the price of Toncoin fails to break the barrier at $5.9, Ton may fall to the support at $5.4. Losing this line could invalidate the bullish thesis, extending the decline to $5.2.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
