Toncoin Price Inches Closer To All-Time High – Will TON Hit $8 This Week?
03 Luglio 2024 - 1:00PM
NEWSBTC
Toncoin (TON), with its history of wild price fluctuations,
perfectly embodies the volatility that thrives in the
cryptocurrency market. Prices often experience dramatic swings that
can make even the most seasoned investors dizzy. However, recent
trends suggest TON might be entering uncharted territory – a period
of eerie stability. This unexpected calm has set tongues wagging,
with analysts predicting a potential explosion in volatility on the
horizon. Related Reading: 36% Explosion! ENS Coin Steals The
Spotlight In The Crypto Market Low Volatility Hints At Brewing
Storm Data analytics platform CryptoQuant has released data
indicating TON is currently trading near its all-time high.
However, unlike previous surges that were characterized by
heart-stopping price jumps, this climb has been accompanied by a
surprising decrease in volatility. At the time of writing, TON was
trading at $7.83 down 2.4% in the last 24 hours, but sustained a
4.7% increase in the last seven days, data from Coingecko shows.
Based on this figure, TON is just a few cents away from hitting a
new all-time high of $8. Low Volatility Alert will hit $TON soon
“Periods of lower volatility are followed by periods of higher
volatility… Therefore, based on this chart, it is reasonable to
anticipate a volatility expansion.” – By @JA_Maartun Link
👇https://t.co/HYoknuWpnV pic.twitter.com/asaR7IYv7k —
CryptoQuant.com (@cryptoquant_com) July 1, 2024 This is reflected
in a chart where a steady price rise sits alongside subdued “blue
bars,” presumably representing volatility levels. CryptoQuant
analysts interpret this unusual calmness as a sign of a brewing
storm. They point to a historical pattern in Toncoin where periods
of low volatility have been followed by dramatic price swings, both
upwards and downwards. Toncoin Potential Price Surge Based on TON’s
historical volatility and CryptoQuant’s analysis of the current
low-volatility phase, analysts anticipate a significant increase in
volatility in the near future. This prediction is further amplified
by separate forecasts suggesting a potential 227% price surge for
Toncoin by August 2nd, 2024. The prospect of a dramatic price rise
is undoubtedly enticing for investors. However, it’s crucial to
remember that the flip side of high volatility is the potential for
a sharp price drop. Investor Guidance In A Volatile Market The
current phase of Toncoin presents investors with a critical
decision point. The token’s low volatility can be seen as a
consolidation period, a time when the market gathers strength
before a significant price movement, either upwards or downwards.
To help investors navigate this potential volatility spike,
CryptoQuant recommends utilizing on-chain metrics, which are data
points generated by blockchain activity. By analyzing metrics like
trading volume, active addresses, and transaction counts, investors
can gain valuable insights into market sentiment and potentially
predict the direction of the upcoming volatility. Related Reading:
Market Expert Sees Big Things For LDO: $6 Price Increase On The
Horizon? Looking Beyond CryptoQuant While CryptoQuant’s analysis
provides valuable insights, investors should consider incorporating
perspectives from other reputable analysts to form a well-rounded
view. Consulting technical analysis indicators and price
predictions from various sources can offer a more holistic
understanding of potential market movements. Additionally, a deeper
dive into the on-chain metrics themselves can provide a more
granular understanding of market forces influencing TON’s price.
This could involve looking at trends in exchange inflows and
outflows, the number of new wallets created, and the average
transaction size. Featured image from Pexels, chart from
TradingView
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