The price of Toncoin has been consolidating between $5.96 and $5.37, showing little movement. Long-term holders have been holding onto their assets, suggesting confidence in the token. However, history has shown that an increase in long-term holders often precedes a price decline. Technical indicators also point to a potential downturn, with the Moving Average Convergence Divergence (MACD) nearing a double-top divergence. If Toncoin fails to break through the $5.96 resistance level, it could indicate a bearish outlook and potential correction. If bullish momentum prevails, Toncoin could break out of its consolidation range and reach $6.36.
- Content Editor ( beincrypto.com )
- 2024-09-26
Toncoin’s Stability May Be Short-Lived as Price Correction Looms