Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon?

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As a seasoned crypto investor with a knack for recognizing potential and a dash of humor, I find myself intrigued by the recent developments surrounding Toncoin (TON). With a background that includes witnessing Bitcoin‘s meteoric rise from pennies to tens of thousands, I’ve learned to read between the lines in the blockchain world.

Toncoin (TON), a cryptocurrency that’s been attracting attention due to its advanced blockchain tech, seems to be regaining its positive trajectory as of late.

After a time of low investment activity, current data indicates growing optimism among investors, possibly indicating a surge in market growth.

The focus of this analysis lies primarily on the 90-day percentage return statistic, a historical benchmark that has proven effective in gauging investor sentiment regarding Toncoin.

Toncoin Sees Renewed Positive Momentum: What Lies Ahead?

In a recent post, analyst Darkfost from CryptoQuant offered some insights about the TON market, entitled “The Positive Trajectory of TON is Resuming.

The analyst noted that the 90-day percent return has turned positive, currently sitting at around 9%. While this is a modest figure compared to the explosive 200% gains seen during TON’s previous rally, it marks a shift that could lead to greater market optimism.

Significantly, Toncoin seeing its 90-day percentage return move above zero is an important milestone. This figure represents the typical gains or losses experienced over a span of 90 days, providing valuable information about investor activity and market trends.

Historically, increases in TON’s price have typically followed periods of positive returns. The recent 9% return suggests increasing investor confidence, but it’s also a sign to proceed with caution, indicating that there could be potential profits, but not necessarily confirming an imminent surge in prices.

Darkfost goes on to disclose that during TON’s major price surge, this particular indicator surpassed the 200% mark, underscoring its potential for exceptional momentum when circumstances are favorable. However, he underlined that while this change in returns is encouraging, it’s premature to assume that TON will duplicate its past successes.

TON Market Performance

Meanwhile, despite the positive momentum observed by Darkfost, Toncoin has been in a downward turn over the past week, dropping by nearly 10%.

Over the last day, there’s been a continued downtrend for TON, as it is now trading at $6.27, which is significantly lower than its peak price of $8.25 achieved in June, indicating a bearish market trend.

Currently, TON’s price has dropped by 24.2% from its peak and by 3.1% in the last day. This downward trend has naturally led to a decrease in the asset’s market capitalization, which was over $17 billion earlier this month but now stands at approximately $15.9 billion as of today.

The daily trading volume for TON has significantly decreased, falling from more than a million dollars on December 10 to approximately $402.8 million currently.

Despite the current downtrend, analysts remain optimistic about TON. In a recent analysis posted on X, The Moon Show suggests that due to TON recently forming a symmetrical triangle on its 1-hour chart, an upward break could potentially propel its price up to $7.55.

$TON is forming this 1h symmetrical triangle. If it breaks to the upside, the target is $7,55

— The Moon Show (@TheMoonCarl) December 5, 2024

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2024-12-14 10:36