Toncoin (TON), the native cryptocurrency of The Open Network, has fallen by 15% over the last 30 days, reaching $5.21, resulting in unrealized losses for many short-term holders.
Despite these challenges, a 53% increase in short-term holders and a 20% rise in mid-term holders indicate growing confidence in a potential price recovery.
The Balance of Power (BoP) technical indicator shows increased buying pressure, suggesting that the price could rebound soon.
The Relative Strength Index (RSI), however, shows uncertain momentum, and the price must surpass $5.55 to confirm a bullish trend, potentially reaching $5.76.
If it fails to pass $5.55, Toncoin's price might drop below $5 with support around $4.86.
