Toncoin’s (TON) price has held steadily above $5.49 but needs to flip the $5.96 resistance for substantial growth. Success in crossing this threshold would unlock significant profits for investors.
Data reveals that around 773 million TON tokens, worth $4.2 billion, were purchased at prices between $5.41 and $5.94. A break above $5.96 would make these holdings profitable, attracting more investors and driving the price higher.
However, the number of active addresses on the Toncoin network has hit a five-month low, showing reluctance among investors. This decline suggests uncertainty about the token’s future potential.
Toncoin is currently trading at $5.61, indicating a bearish-neutral market outlook in the short term. The token is expected to consolidate within the $5.49 to $5.96 range.
Despite this, if bullish momentum increases, Toncoin could breach the $5.96 barrier, bringing $4 billion worth of TON supply into profitability and potentially leading to further gains.
