- In the past 24 hours, Toncoin has seen a surge in positive sentiment.
- The metrics looked positive, but certain technical indicators became bearish.
Toncoin [TON] Investors were surprised by the bullish action of TON’s price, and the market capitalization increased. This rise could help TON to become a Top 10 Token soon.
Toncoin is the best of all.
The following is a list of CoinMarketCapTON’s price has risen more than 30 percent in the past day. It was the highest of any cryptocurrency on the list.
TRON’s market capitalization was over $12 billion at the time this article was written. TON’s massive price increase has made it a popular topic in the cryptosphere, with its dominance in social media and positive sentiment rising sharply.
Santiment
Good news: the rise in the token’s price coincided with a 300% increase in the volume of trading, indicating that traders have actively traded the token.
TON could soon make it into the top 10, especially if the momentum continues. TON may have to do this in order to surpass cryptos such as Dogecoin, or Cardano. Both are ranked at 10th and ninth, respectively.
Toncoin is being bought by investors
AMBCrypto looked at Santiment data in order to see what metrics TON had while the price was rising. As the exchange’s outflow increased, we noticed that there was a high level of buying pressure.
In the past 24 hours, the Supply of the product on the Exchanges has decreased, whereas the Supply off the Exchanges has increased.
During the last day, whale activity around tokens remained very high. The MVRV Ratio was a bullish indicator, as it shot up.
Santiment
The derivatives market was also looking good for Toncoin. AMBCrypto analyzes Coinglass. data Open Interest for TON rose along with the stock price when it was revealed.
When the indicator is rising, the likelihood of the trend resuming increases.
Toncoin’s long/short has also increased. It indicates that people are increasingly buying assets and holding them, which is a sign of a rising bull market.
Source: Hyblock Capital
This trend will it last?
AMBCrypto analyzed Toncoin’s chart daily to determine if TON was likely to make the list. According to our analysis, TON’s MACD showed a bullish edge at the time of press.
What are the costs? 1,10,100 TONs worth today?
The Relative Strength Index of TON (RSI), as well as the Money Flow Index, (MFI), both registered large increases. However, at time of press, these indicators had already entered an overbought area.
It was possible that the bullish rally of TON would be ended by increased selling pressure.
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“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com
