Toncoin Signals Accumulation Phase as Open Interest Hits Nine-Month Low

Name	Symbol	Market	Market Cap ($)	Algorithm
Quant	QNTUSD	Crypto	1,730,756,964	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Quant

QNTUSD

Crypto

1,730,756,964

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1.83	-1.51%	119.18	119.30	119.35

Price Change

Price Change %

Current Price

Bid Price

Offer

-1.83

-1.51%

119.18

119.30

119.35

High Price	Low Price	Open Price	Prev. Close	52 Week Range
124.02	118.07	121.15	121.01	50.05 - 171.69

High Price

Low Price

Open Price

Prev. Close

52 Week Range

124.02

118.07

121.15

121.01

50.05 - 171.69

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:42:38	2.01	119.18	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:42:38

2.01

119.18

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,074,708.02	8,844.91	QNT	QNTEUR	QNTGBP	QNTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,074,708.02

8,844.91

Toncoin Signals Accumulation Phase as Open Interest Hits Nine-Month Low – What’s Next?

25/12/2024 2:00am

NEWSBTC

Toncoin (TON) appears to have now entered a notable phase in its market cycle, presenting potential opportunities for investors. A recent analysis by CryptoQuant analyst Joao Wedson highlights that TON has moved into a favorable risk zone for accumulation, as indicated by the Normalized Risk Metric (NMR). This metric evaluates an asset’s price risk relative to historical data, providing a clearer picture of whether the current price levels are suitable for investment or if caution is warranted. Related Reading: Toncoin Consolidates: Could A Breakout Push TON Higher? Toncoin Current Market Outlook The NMR uses moving averages such as the 50-day and 374-day simple moving averages (SMA) along with logarithmic differences in price data to determine risk exposure. A normalized score ranging between 0 and 1 indicates the level of risk, with values closer to zero suggesting a lower chance of price decline. According to Wedson, TON’s current placement in the green zone signals reduced risk, making it an appealing opportunity for investors seeking long-term exposure to the asset. The analysis further suggests that while the medium and long-term risk profiles appear favorable, there remains a possibility for TON’s price to revisit historically significant support zones, often referred to as the “blue zone” on price heatmaps. Historically, these levels have served as price floors and accumulation points for investors expecting future price appreciation. Open Interest Decline and Market Volatility Trends Another CryptoQuant analyst, Maartunn, has added further context to Toncoin’s current market stance. According to his observations, TON’s Open Interest (OI) in the futures market has decreased to $141 million, marking the lowest level observed in the past nine months. Open Interest refers to the total value of outstanding futures contracts and is a key indicator of market sentiment and participation. A decline in Open Interest generally signals reduced market activity and lower volatility. While this trend is specific to TON, it reflects a broader pattern across the cryptocurrency market as the year comes to a close. Historically, periods of low Open Interest are often followed by significant price movements, either upward or downward, once liquidity returns to the market. Related Reading: Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? Lower Open Interest combined with Toncoin’s favorable risk metrics may suggest a period of price stability and reduced volatility. Risk-Adjusted Returns and Drawdowns: A Look at Unrealized Profits in TON “The Open Interest and Funding Rates chart complements this narrative by highlighting steady open interest levels, which demonstrate sustained participation in the TON ecosystem.” – By @ShivenMoodley More… pic.twitter.com/DIpNabROij — CryptoQuant.com (@cryptoquant_com) December 24, 2024 Featured image created with DALL-E, Chart from TradingView

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