Toncoin is making a significant recovery. The most recent 376% surge in whale transactions confirms this trend. Whale activity has been observed in Toncoin transactions over the last 24 hours. Major players showed increased interest as the seven-day high reached 32 transactions on July 6, 2024.
The recent low occurred on July 7, 2024, with only three transactions. However, this was followed by a spike in activity. The total amount of large transactions in the last day was 359,000 TON. On July 3, 2024, it reached a seven-day high of 962,000 TON. This increase implies that whales are buying cheap TON by taking advantage of current market conditions.
Based on a price chart analysis, Toncoin has been trending upward. TON is up two points, or 32%, as of right now, trading at about $7.28. In recent sessions, the price has been erratic, hitting highs of $7.38 and lows of $7.09. Technical indicators point to support at $7.16 and resistance levels at $8.00 and above.
With the price of Toncoin continuing to rise above significant moving averages, the overall trend seems positive. The 50 EMA and 200 EMA are both exhibiting upward momentum. Additionally, the RSI is in a positive position, indicating that the asset is not yet overbought.
The growing amount of TON that whales are accumulating indicates their high level of confidence in the asset’s potential performance.
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