Toncoin (TON) Price Prediction: Volatility Ahead

Toncoin (TON) price has struggled to breach the critical $5.37 barrier throughout the month. Despite several attempts, the cryptocurrency has been unable to maintain momentum above this level.

Toncoin (TON) price has been attempting to breach the critical $5.37 resistance level throughout March. Despite several tries, the cryptocurrency has been unable to sustain momentum above this level.

However, market indicators suggest that Toncoin’s price is preparing for a potential surge. Investors are keeping a close watch as the coin positions itself for a possible pivot in its price trajectory.

Toncoin investors adjust their strategies

Recent data shows a shift in Toncoin’s supply from short-term holders (STH) to mid-term holders (MTH). Over the last two weeks, the supply controlled by short-term holders has decreased from 50% to 35%, while mid-term holders have increased their holdings by 15%, now holding 61% of all TON.

This metric is significant because short-term holders, who typically hold for less than a month, are more inclined to sell their holdings quickly. On the other hand, mid-term holders usually hold their assets for one to twelve months, which often bodes well for price stability. The increasing presence of mid-term holders is thus a positive sign for Toncoin’s price.

Moreover, the macro momentum of Toncoin also suggests a potential price surge. Technical indicators, such as the Bollinger Bands, are currently forming a squeeze, which signifies that the price is consolidating and preparing for a potential breakout.

A Bollinger Bands squeeze is usually followed by significant price movements, and given the current low trading volume, any major market move could amplify this effect. If the broader cryptocurrency market maintains its bullish trend, this squeeze could propel Toncoin’s price upward.

TON price prediction: preparing for volatility

Toncoin is currently trading at $5.19, just below the critical resistance level of $5.37. Breaching this barrier is essential for a potential rally toward $6.00. Investors are watching this key level closely, as crossing it could signal a bullish run.

The technical and market indicators are aligning to suggest a potential breakout if $5.37 is surpassed, especially with the increasing volatility and low selling pressure.

However, simply breaking the resistance is not sufficient; Toncoin must establish $5.37 as a support level to continue its momentum and prevent a swift reversal.

If Toncoin fails to sustain its position above $5.37, a drawdown to $4.86 could occur. In this scenario, the failed breakout would lead to a pullback, cooling off the current bullish sentiment. Investors should monitor the market closely to assess whether Toncoin can secure its breakout or faces a setback to lower levels.

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