CandleFocus Toncoin (TON) Price Faces Potential Drop Below $5: Here’s Why
2024-10-19
Author: Content Editor
The Toncoin (TON) price has remained range-bound at $5 for most of the week, contradicting previous signals of higher value. Recent data suggests that TON could undergo a brief decline before potentially going beyond current levels. One factor contributing to this potential decline is the Daily Active Addresses (DAA) divergence, which has dropped by 138.59% in the past 24 hours. This suggests a bearish outlook for the price. Network Growth, which tracks new user adoption, has also declined, indicating a potential short-term price dip. The Chaikin Money Flow (CMF) has dropped significantly, suggesting high selling pressure on TON. If selling pressure continues, the price could fall below support levels. However, if bears lose momentum, buying pressure could increase, driving the price higher.
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