The cryptocurrency Toncoin (TON), which is linked to Telegram, has experienced an increase in whale activity recently. Large holders of TON have been accumulating tokens, as indicated by the uptick in their netflow. The number of daily large transactions involving TON has also surged. However, despite this increased whale activity, bearish sentiment has prevented TON's price from gaining momentum. The short-term holders (STHs) of TON have reduced their holding time, leading to downward pressure on the price. As a result, TON's price has dropped by 10% in the past month. Currently trading at $5.09, TON could potentially fall to $4.46 if buying pressure continues to decline. On the upside, if demand increases, TON could attempt to break resistance levels at $5.26 and $5.91, potentially leading to a rally towards its two-month high of $6.36.



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