On August 14, the Toncoin (TON) price rose above $7 for the first time this month. This increase offered token holders hope after underperforming in Q1 2024. However, the price dropped to $6.76, indicating potential further declines.
Toncoin’s Mean Dollar Invested Age (MDIA) suggested long-term holding initially, but the 90-day MDIA is now down, indicating increased transaction activity and the presence of weak hands that might drive prices down.
Additionally, the Coins Holding Time metric, which tracks holder transaction resistance, has decreased by 95% in the past week, further signaling weak holding behavior.
If these trends continue, returning to the $7 region might be difficult. A 10% fall is possible, with the price potentially dropping to around $6.19, especially if demand remains low.
In contrast, if demand increases sufficiently, TON's price could climb to an upper-level resistance at $7.26.
![Toncoin [TON] blockchain hits 1B transactions – Bull run ahead?](https://loutre.blockchair.io/w4/storage/news/2d065a81e30cf52ab74493b9ec97beaa.png){kind=small}
