Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	23,972,534,813	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.004213	-1.49%	0.277728	0.278081	0.278154

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.28334	0.275453	0.281941	0.281941	0.077142 - 0.449994

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	08:07:33	25.00	0.277728	USD

Price x Volume	Volume	Base Symbol	Related Pairs
116,027.45	414,164.07	TRX	TRXEUR	TRXGBP	TRXBTC

Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon?

14/12/2024 7:30am

NEWSBTC

Toncoin (TON), a crypto gaining traction for its notable blockchain technology, has recently exhibited signs of recovering positive momentum. Following a period of subdued activity, recent metrics suggest renewed confidence among investors, potentially signalling an upward trend. At the center of this observation is the 90-day percent return metric, which has historically been a reliable indicator of market sentiment for Toncoin. Related Reading: Toncoin Price Explodes With 17% Rally — Can TON Sustain The Momentum? Toncoin Sees Renewed Positive Momentum: What Lies Ahead? CryptoQuant analyst Darkfost shared insights into the TON market in a recent post titled “TON Positive Momentum is Getting Back.” The analyst noted that the 90-day percent return has turned positive, currently sitting at around 9%. While this is a modest figure compared to the explosive 200% gains seen during TON’s previous rally, it marks a shift that could lead to greater market optimism. Notably, the 90-day percent return metric turning positive is a noteworthy development for Toncoin. This indicator reflects the average returns over a 90-day period, offering insights into investor behaviour and market sentiment. Historically, positive returns have often preceded significant upward trends in TON’s price. While the current 9% return signals growing investor confidence, it remains a cautious indicator, suggesting potential gains without confirming a definitive rally. Darkfost further reveals that during TON’s last significant rally, this metric soared beyond 200%, showcasing its capacity for really strong momentum when “conditions align.” He then emphasized that while this shift in returns is promising, it is too early to predict whether TON will replicate its previous performance. TON Market Performance Meanwhile, despite the positive momentum observed by Darkfost, Toncoin has been in a downward turn over the past week, dropping by nearly 10%. Even in the past 24 hours, TON is still seeing a form of bearishness in its price as it currently trades at a price of $6.27 pushing its price further away from its all-time high of $8.25 recorded in back in June. Particularly, at current market prices, TON is down by 24.2% from this peak and 3.1% in the past day. This decrease has also unsurprisingly affected the asset’s market cap which has decreased from over $17 billion seen earlier this month to now at $15.9 billion as of today. Related Reading: Toncoin Liquidity and User Activity Reviewed by Analyst: Insights on Market Impacts TON’s daily trading volume has also plunged from over $1 million on December 10 to roughly $402.8 million as of today. Regardless of this bearish performance, analysts seem to continue to be bullish on TON. In a recent analysis uploaded on X, The Moon Show revealed that as TON recently formed a symmetrical triangle on its 1-hour chart, a break to the upside could bring its price to trades as high as $7.55. $TON is forming this 1h symmetrical triangle. If it breaks to the upside, the target is $7,55🎯 pic.twitter.com/Fz9lbrxfSo — The Moon Show (@TheMoonCarl) December 5, 2024 Featured image created with dALL-E, Chart from TradingView

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