Toncoin Is on Its Way to a Recovery, and the Most Recent 376% Surge in Whale Transactions Is the Confirmation of It

Whale activity has been observed in Toncoin transactions over the last 24 hours. The most recent data indicates that 359,000 TON were involved in nine significant transactions.

Toncoin’s recovery is being evidenced by the most recent 376% surge in whale transactions. While the price is surging in the background, on-chain metrics are also indicating a possibility of a substantial market surge.

Over the past 24 hours, Toncoin transactions have seen a surge in whale activity. According to recent data, nine large transactions involved a total of 359,000 TON. As the seven-day high reached 32 transactions on July 6, 2024, major players showed increased interest.

This spike in activity follows the recent low on July 7, 2024, which saw three transactions. Moreover, there has been a significant increase in the volume of large transactions. The total amount of large transactions in the last day was 359,000 TON, and on July 3, 2024, it reached a seven-day high of 962,000 TON.

This surge suggests that whales are taking advantage of the current market conditions to accumulate cheap TON. Based on a price chart analysis, Toncoin has been trending upward. Currently, TON is trading at around $7.28, up two points or 32%. In recent sessions, the price has been fluctuating, reaching highs of $7.38 and lows of $7.09.

The technical indicators also show support at $7.16, along with resistance levels at $8.00 and above. Overall, the trend appears positive as the price of Toncoin continues to rise above key moving averages. With the 50 EMA and 200 EMA both showing upward momentum, there could be more room for gains.

Furthermore, the RSI is in a positive zone, indicating that the asset is not yet overbought. The increasing amount of TON being accumulated by whales demonstrates their strong belief in the asset’s potential performance.

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