Toncoin saw an 18% price increase within 72 hours, reaching $5.42. This spike follows comments from Telegram CEO Pavel Durov, prompting renewed investor interest.
Firstly, the number of addresses holding Toncoin surged by 64% since September, indicating growing demand and investor interest. This contrasts with a 20% increase in August.
Secondly, despite the bullish momentum, the Relative Strength Index (RSI) is just below the neutral line of 50.0, suggesting potential challenges ahead. However, investor enthusiasm could drive the RSI above this threshold, signaling further gains.
Lastly, Toncoin's recent surge brings it close to breaching a resistance level at $5.53. A break above this could lead to further gains, targeting $5.93 and potentially $6.00.
If the bullish momentum falters, the price may consolidate just above $4.86, invalidating short-term bullish expectations.
