Over $5 Billion Profits in Jeopardy: Toncoin (TON) Faces Selling Pressure
Toncoin (TON) Price in a Delicate Balance
Toncoin (TON) is currently on a macro uptrend; however, recent fluctuations indicate rising selling pressure that could jeopardize over $5 billion in profits. Investors are torn between HODLing and capitalizing on potential gains.
Potential Selling Pressure Amid Mixed Sentiments
The Global In/Out of the Money indicator reveals that from $6.12 to $6.77, approximately 793 million TON were acquired, totaling over $5.2 billion. Yet, as the price stands at $6.59, concerns over losses are elevated.
- Key indicator: Rise in active deposits may signal impending sales.
- Investors appear eager to secure gains after recent recovery.
Toncoin Price Prediction: Critical Resistance Level
Despite a 6.5% dip to $6.59 over three days, there is potential for Toncoin to maintain its upward trend. The push for profits is substantial, outweighing profit-taking sentiments.
- If Toncoin breaks the crucial $7 barrier, prospects for recovery increase.
- A slip below $6.43 could lead to a decline towards $6.04.
While current indicators express caution, the market’s reaction to upcoming movements will be telling for Toncoin investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.