Toncoin (ton) shows a picture that shows that its volatility has decreased significantly in recent days. Crypto analyst Ali Martinez, X in his share, Toncoin’s 12 -hour chart Bollinger bands stuck, he said.
This reflects the low volatility in the tonal price in recent days, but also indicates that a strong price movement is approaching. It is usually seen that the price moves sharply after such a jam. However, the uncertainty continues in terms of the direction of this movement.
Price movements and indicators call for “attention”
The number of active addresses in the Toncoin network had reached the summit after the price withdrawn from $ 7.5 in August. Since then, this metric remained quite low. Even the rise in November was not enough to significantly increase the investor interest.
The data that measures network growth and shows the number of newly created addresses has been at a constant level since October. In the last two weeks, a slight decrease has been observed both in the number of active addresses and the network growth rate.
Toncoin supply distribution data shows that sales pressure increases
According to the supply distribution graph, the number of addresses with 100 tons or less assets since October has been observed. However, the number of addresses that have assets between 1-100 tons has remained unchanged since January 24th.
Large investors continue to reduce their existence. Addresses, which have an asset between 10 thousand and 100 thousand tons, have increased in the last three weeks, but decreased last week.
Technical Indicators and Market Structure Supports a decrease tendency for toncoin
When Toncoin’s daily graph is examined, it is seen that the OBV (Ten-Balance Volume) indicator has fallen below the lowest levels in November and is currently at the September levels.
The price decreased to the support level of $ 3.42 by going down to the transaction range in recent months. This level corresponds to 78.6 %Fibonacci retreat level and is often considered a strong support point. However, low activity in the network and the increasing sales volume in recent weeks show that the price can make a downward movement.
The overall structure of the market tends to decline clearly in the daily graph. A recovery in the Bitcoin (BTC) market can have a positive effect on Altcoins and encourage Toncoin receivers. However, until the level of $ 4.5 has become a strong support again, short -term investors can maintain their decrease -oriented positions.
