Toncoin Price Surges Nearly 18% Amid Positive On-Chain Signals
Toncoin's price performance has been notable amid a slow week for large-cap cryptocurrencies. While Bitcoin aims for a $100,000 valuation, Toncoin (TON), Stellar (XLM), and XRP have recorded double-digit returns.
Is TON Price Going To Continue Upward Trend?
An analyst known as Darkfost on CryptoQuant provided a positive analysis for Toncoin's price over the upcoming weeks, indicating bullish on-chain signals.
The “90-day percent return” metric, which tracks price changes over the last 90 days, recently turned positive for Toncoin. Historically, this shift typically precedes significant upward momentum in price.
This positive change indicates increased investor confidence and a willingness to hold assets in anticipation of further price increases. Additionally, another positive signal is the increase in open interest, suggesting a continuation of the bullish trend.
Toncoin Price At A Glance
As of now, Toncoin is priced at approximately $6.526, showing minimal change in the past day but up nearly 18% for the week according to CoinGecko data.
This recent bullish movement has pushed Toncoin above $6.5 for the first time since late August, recovering from a low of around $4.5 in September before its recent ascent.
