Toncoin (TON) Whales Accumulate as Trading Activity Surges, Price Prediction

Toncoin [TON] has witnessed a 108% surge in the number of large transactions. Similarly, the number of active addresses has spiked by 35.13% from 2.44

Toncoin (CRYPTO: TON) has seen a 108% increase in the number of large transactions. Additionally, the number of active addresses has increased by 35.13%, rising from 2.44 million to 3.3 million.

This substantial increase in the number of large transactions, which is also supported by an increase in market trading activity, could indicate a significant price movement for TON.

Toncoin Price Prediction…

The Toncoin price was seen approaching a crucial level at press time, following a strong bullish rally. The altcoin had experienced a 22% rally over the last three days before changing course.

Over the last 24 hours, the altcoin decreased by 1.06%, despite showing a sustained 14.18% increase over the last seven days, according to CoinMarketCap.

Source: TradingView

Whale On The Move As Trading Activity Surges

Toncoin bulls have defended the market with their increased large transactions, as shown by the IntoTheBlock data. The number of large transactions spiked from 975 to 1.85K transactions.

The whale positions in the market suggest they anticipate an overall price rally towards the next resistance level in line at $6.02.

Source: IntoTheBlock

Adding more fuel to bullish bias, Toncoin trading activity has increased drastically, with the number of active addresses surging significantly by 35% in the last 24 hours according to the IntoTheBlock data.

Source: IntoTheBlock

Bulls Vs. Bears

Despite the bullish sentiments mentioned above, Toncoin has shown a decreasing long-short ratio since September 9th. This may suggest a short-term price correction before the market resumes its upward trajectory.

The price correction may be coming to an end, as evidenced by increasing whale and trading activity.

Source: Coinglass

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The increasing whale activity and trading activity converges with the price action analysis. All indicators point to a bullish run continuation.

However, Toncoin may experience some correction in the short-term before rallying to the target price at around $6.02.

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