Toncoin (TON) price might be poised for a potential increase in the short term due to shifting market winds. Investors are mobilizing to support a potential increase in value that would compensate for TON’s recent losses. The price of Toncoin could likely witness a revival depending on the actions of its investors. After weeks of decline, it is evident that TON holders are preparing for a potential price increase driven by their behaviors.
Critical Metrics in TON
The average age of cryptocurrency measures the average age of all cryptocurrencies circulating within a network and can provide insights about hodling patterns and potential market activities. An increase in this measurement indicates that investors are leaning towards hodling. Conversely, a decrease could mean investors are moving their tokens to different addresses. This could be a sign of low confidence in TON over the past few days. However, the measurement is currently noticing a trend which could mean that the Toncoin price could benefit from a rise. This possibility is further confirmed by the price difference among daily average addresses (DAA).
The indicated indicator can reveal potential discrepancies between network activity and market valuation by comparing the number of daily average addresses transacting with a cryptocurrency to price movements. Considering the current increase in price and participation, the DAA price difference is signaling a buying opportunity. If investors start accumulating TON, the price of Toncoin could soon indicate a rise on the charts.
17% Rise in TON
Toncoin’s price is trading at $5.9 at the time of writing and has been stuck in a descending channel for the past few days, moving downward. Considering the changing stance of investors, it appears that TON could escape this channel. A potential breakout above the upper trend line could indicate a 17.77% potential rise for TON. This situation would require the altcoin to surpass the $7.0 resistance line, potentially directing it towards the $7.8 target.
