Toncoin (TON) has experienced a 10% decline over the past month, falling from $5.54 to $4.76. Despite this downturn, analysis suggests that TON may have reached a strong support level, minimizing the risk of further losses.
The In/Out of Money Around Price (IOMAP) shows significant support between $4.69 and $4.84, where about 2.44 million addresses bought 600 million tokens. This volume of holders could prevent further declines.
The Money Flow Index (MFI) also indicates potential positive movement for Toncoin. It has shown increased buying interest, as seen in its recent move above the 50.00 midpoint, suggesting further price increases.
If bullish momentum continues, TON's price could climb to $5.58, supported by the historical importance of $4.67 as a strong base, which played a crucial role in past rallies.
However, any loss of support around $4.76 could result in a decline to $4.45, underscoring the importance of maintaining bullish pressure and support levels in the current market.
