Toncoin (TON) has repeatedly tried, but struggled, to surpass the important $5.37 price point. Despite these attempts, market watchers anticipate major volatility, suggesting potential for a price surge.
Investor behaviors are changing, with more Toncoin shifting from short-term to mid-term holders. Short-term holders have decreased their stake from 50% to 35%, while mid-term holders have increased theirs to 61%, implying potential price stability and positive sentiment.
Technical factors such as the Bollinger Bands are squeezing, indicating consolidation and possible upcoming volatility. A broader bullish trend could drive Toncoin’s price higher if this continues.
Presently, Toncoin trades near $5.19, just below the critical resistance level. For a rally towards $6.00, surpassing and maintaining $5.37 as support is key. Failure might lead to a price drop towards $4.86, signaling a retracement in the event of failed breakthrough.
