Toncoin demonstrates signs of resilience amidst recent price increases, but weak trading volumes pose risks for further growth.
Current Toncoin Dynamics
The price of Toncoin has risen by 2.14% in the last 24 hours and is currently trading at $3. The established support between $2.80 and $2.90 provides a foundation for the observed increase. However, trading volumes decreased by 15.17%, totaling $110.85 million.
Technical Changes and Growth Potential
Toncoin has successfully broken a long-standing downward trendline on its daily chart, which could pave the way for further gains if buyers maintain support above $3. If trading volumes increase, the asset could target the $4 mark, last reached on April 1, 2025.
Market and Investor Sentiments
Scheduled sell-offs by holders who purchased Toncoin may also exert pressure on the asset's price, as a resistance level exists around $3.24. In this critical situation, it is vital to see whether Toncoin can attract sufficient trading volume to support growth, which depends on investor sentiment and ecosystem stability.
Toncoin's recent trading performance indicates early strength; however, the lack of high volumes creates uncertainty. Sustained support and investor confidence will be key factors for any move towards $4.
