Toncoin’s (TON) price has held above $5 amidst a broader market rebound, indicating potential upward momentum.
Nevertheless, 73% of traders are currently shorting the cryptocurrency, signaling a bearish sentiment. Despite this, many addresses that bought Toncoin in the last 30 days are still holding onto it.
This situation sets the stage for a potential short squeeze, where short positions are forced to close, further driving the price up. Toncoin's price target could be around $7 if bullish trends continue.
