CandleFocus This Is Why Toncoin (TON) Could See a Short Squeeze Soon
2024-09-27
Author: Content Editor
The price of Toncoin (TON) has remained stable over the past week despite market fluctuations. However, two key on-chain metrics, including Toncoin's 30-day open interest delta and negative funding rate, suggest a potential short squeeze. The positive open interest delta indicates increased market activity, while the negative funding rate suggests a bearish outlook. This combination of metrics could result in a short squeeze, a shift in sentiment, and increased volatility. Toncoin is currently trading at $5.88, and if its rally continues, it could gain 51% and reach a new all-time high. Conversely, a negative market sentiment could cause Toncoin's price to drop to $4.44.
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