Toncoin Recovers to $4.13 with 12.5% Weekly Gain Amid VC Support
Market Recovery Amid Institutional Confidence
The cryptocurrency market shows volatility, with Toncoin (TON) recovering to $4.13 after recent lows, marking a 12.5% weekly gain.
Key points include:
- Strong resistance at $4.15 and support at $3.60.
- Institutional backing from firms like Sequoia and Ribbit Capital, holding over $400 million in TON.
- Price action indicates potential stabilization around the Fibonacci level of $3.58.
- Volume analysis suggests institutional profit-taking during price peaks.
- Recent buying pressure noted during specific time frames supporting upward movement.
- Price has reclaimed the Fibonacci 0.382 level at $3.59, hinting at possible continuation towards $3.65.