CandleFocus 2 Key Signals Driving Toncoin (TON) Traders to Position for a Price Drop
2024-09-24
Author: Content Editor
Toncoin's price has recently broken above the $5 level, indicating a potential close to its all-time high. However, traders are reassessing their positions due to increasing volatility and changing trends. Data shows that Toncoin's Funding Rate has turned negative, suggesting traders expect the price to drop. This, along with a decline in Large Holders Netflow, could lead to a significant downturn in Toncoin's price. The token faces resistance at $5.68, which could prevent it from reaching $6. If the resistance is broken, the price could climb to $6.71. However, if the bearish trend continues, the price could fall to $5.21 or even $4.88.
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