Toncoin has been a standout performer in the cryptocurrency market with a 17% rally amid a slow week for large-cap assets. As Bitcoin struggles to hit $100,000, Toncoin, along with Stellar and XRP, is experiencing double-digit growth. Investors are now wondering if Toncoin can sustain this momentum.
An analyst from CryptoQuant, Darkfost, noted bullish on-chain signals for Toncoin's future price movements. The 90-day percent return metric, which measures the price change over 90 days, recently turned positive. Historically, this has indicated significant momentum for the cryptocurrency.
This positive shift in the 90-day return suggests increasing investor confidence, with expectations of continued bullish trends. Additionally, the percentage change in open interest has also turned positive, further supporting the bullish outlook for Toncoin.
Currently, Toncoin's price is around $6.526, showing no major change over the past day but an 18% weekly increase according to CoinGecko. This rise brings Toncoin back above $6.5 for the first time since August. The upward trend follows a dip to $4.5 in September.
