Toncoin (TON) poised for recovery after correction scare
If you’re holding onto TON, now might be the perfect time to consider adding more to your wallet to benefit from a potential price rebound.
Toncoin Could Witness Recovery
- Toncoin’s price took a hit recently but found support around $5.2 – $5.4.
- Investors could influence a positive change by increasing their TON holdings.
- The Market Value to Realized Ratio (MVRV) suggests a heating up of the altcoin market.
The MVRV ratio, which tracks investor gains and losses, currently sits at -13.22%, indicating a period of losses. This could signal the start of a potential recovery as TON enters an accumulation zone where historically, prices have rebounded.
Accumulation of TON could lead to increased demand, resulting in a price surge.
TON Price Prediction: What After the Support?
- Toncoin’s price is hovering around $5.2, just below the $5.4 resistance level.
- Breaching $5.4 could lead to a bullish outcome for TON.
- Investor support may drive the price of Toncoin towards $6.
Despite recent struggles to surpass the $5.4 barrier, TON has shown resilience and prevented a significant decline. This could be a sign of potential upside if investors show their backing for the cryptocurrency.
However, failing to breach the resistance could lead to a test of the $4.7 support level. Losing this support may invalidate the bullish outlook and extend losses for TON holders.
Hot Take: Your Next Move with Toncoin
Considering the potential for a bullish recovery and the opportunities presented by accumulating TON, it might be a good time to evaluate your TON holdings and consider increasing your investment to benefit from the anticipated price rebound.
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