The price of TON may see a major breakthrough. As it approaches this critical threshold, investors who were seeing losses may be able to celebrate and see profits.
This analysis examines the upside momentum of TONCOIN and the profit opportunities that a sustained rally could bring to both traders and long-term holders.
Toncoin, a lot of money is at stake
Currently ranked as the 9th most valuable cryptocurrency, TON Coin (TON) is trading at $5.54, down 33% from its all-time high . However, according to data from IntoTheBlock, TON Coin could soon close this gap. The platform’s Global In/Out of Money (GIOM) shows that 3.78 billion tokens purchased at $1.98 are in profit.
GIOM helps identify support and resistance by showing the trading volume of a token at profit, loss or break-even points. Larger clusters at a certain price level indicate stronger support or resistance. In particular, more than 30 million addresses are holding 222 million TON tokens at a loss, purchased between $5.78 and $8.18.
The volume is not as high as what was accumulated at $1.98, so the price of TON can find significant support. If this support is confirmed, the price of TON can rise above $7.45, resulting in a profit of $1.22 billion .
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The 3-month liquidation heatmap for TONCOIN also shows the potential for price increases. This heatmap highlights the price levels at which large liquidations could occur. The high liquidity concentration, which changes from purple to yellow, suggests a potential price move to that level.
For TON, the heatmap shows a possible jump to $6 first. If buying pressure increases, the price could rally to $7.45, which could bring in the $1 billion profit mentioned earlier.
TON Price Prediction: $7 Return Imminent
From a technical perspective, the price of TON Coin is fluctuating between $5.45 and $5.55 today. While trading at $5.54, BeInCrypto observes consistent green histogram bars along with Bull Bear Power (BBP).
This technical oscillator estimates the strength of buyers (bulls) and sellers (bears). When the BBP is positive, the bulls are in control. However, a negative reading of the indicator gives the bears the upper hand .
As you can see below, the bulls are in the lead. This also coincides with the period of increasing Chaikin Money Flow (CMF). Based on the current outlook, the price of TON Coin can rise to $6.48 or even $7.27.
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However, if the seller's power weakens, the price may fall again. In such a situation, TON may fall to $4.95.
