TON Coin (TON) narrowly avoided a 41% price drop, and the changing market conditions are expected to see an uptrend for this Telegram-linked coin.
Market indicators and the fact that TON holders are refraining from taking profits support this optimistic outlook.
Toncoin Gets a New Opportunity
From a technical perspective , the macro momentum of TONCOIN is showing bullish signals. The Moving Average Convergence Divergence (MACD) indicator is forming a double bottom bearish divergence, which often suggests a possible price uptrend.
This indicator is also approaching a bullish crossover point, indicating that the bars on the histogram are decreasing in a bearish direction. The price of TONCOIN could benefit significantly from this change in sentiment.
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The current market sentiment for TONCOIN is relatively stable. According to the latest data, the number of profitable active addresses shows that there is currently low selling pressure. Profitable investors account for less than 16% of all active addresses, which is usually a bullish signal.
A reading above 25% usually indicates bearish momentum, with increased selling likely to push the price down. Fortunately, this is not the case at the moment, and there is room for TON to recover . The current market’s cautious optimism suggests that further price gains are possible if other factors come together in its favor.
TON Price Prediction: Bullish Outlook
Currently, TON is trading at $5.62 and is approaching the price that invalidates the head and shoulders pattern that initially suggested a 41% decline. If TON can turn $6.04 into support, the bearish outlook will change to neutral for the time being. If this happens, it will be worth watching to see if the sentiment changes and if the foundation for continued upside momentum is laid.
A successful break above $6.04 could see TON targeting $7.09, a crucial resistance level. Reaching this level would provide significant gains for investors and reinforce confidence in the long-term potential of the cryptocurrency. This uptrend is likely to attract more buyers, which will further propel TON’s price trajectory higher in the coming weeks.
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However, if it fails to recover the $6.04 level, it could fall back to $4.80, the point of breakdown. If TON Coin breaks through this support , it could fall to $4.29, which would invalidate the current bullish logic and put additional downward pressure on the market.
