Positive 90-Day Returns for Toncoin: As we can see Table 14, pertain to ISDN service is still very low, so is there going to be a big rally?
More recently, the Toncoin (TONNE) has become popular thanks to interesting blockchain technology and, in the near future, the indicator of this cryptocurrency may return positive growth.
The data reveal signs of the restoration of investit confidence after a period of inactivity, which would suggest an increase.
That is based on the 90-day percent return metric that has been considered one of the most reliable tools for assessing the sentiment around Toncoin for a long time.
Toncoin Experiences a Resurgent Upswing: What's Next?
It is pertinent to note that recently a user with the forum handle Darkfost, after using CryptoQuant for analyzing the TONNE market, has posted a blog article recently which is titled, “TONNE Positive Momentum is Getting Back”.
The expert pointed out that the 90-day percent return, which is currently at about 9%, has turned positive. This represents a change that may result in increased market optimism, even though it is a little amount in comparison to the spectacular 200% gains saw during TON's previous boom.
I have found one important achievement for Toncoin – the 90-day percent return indicator has become positive. This indicator demines investor behaviour and market sentiment through information on the average returns for a ninety day period.
90-Day percent returns on Toncoin (TONNE).
Gains have been normally succeeded quite often with significant rises in the price of TONNE. The current 9% return is a cautious indicator that suggests possible gains without conclusively confirming a rally, even though it shows increased investor confidence.
Additionally, according to Darkfost, this statistic surged above 200% during TON's most recent notable rally, demonstrating the company's ability to generate extremely strong momentum when "conditions align." He went on to stress that although this change in returns is encouraging, it is too soon to tell if TONNE will repeat its prior success.
Performance of the TONNE Market
Meanwhile, Toncoin has been declining over the previous week, falling by almost 10%, despite the encouraging progress noted by Darkfost.
Since TONNE is currently trading at $6.27, further detracting from its all-time high of $8.25 set back in June, the price has continued to exhibit bearishness even after the last day.
In particular, TONNE is down 3.1% over the last day and 24.2% from its top at current market pricing. Unsurprisingly, this decline has also had an impact on the asset's market capitalisation, which as of today is $15.9 billion down from nearly $17 billion earlier this month.
From more over $1 million on December 10 to about $402.8 million today, TON's daily trade volume has likewise drastically decreased.
Analysts appear to remain bullish on TONNE in spite of this negative result. Since TONNE just established a symmetrical triangle on its 1-hour chart, a break to the upside might push its price to trade as high as $7.55, according to a new analysis posted on X by The Moon Show.
@TheMoonCarl The Moon Show
This one-hour symmetrical triangle is being formed by $TONNE. The aim is $7.55 pic if it breaks upward.Twitter: https://Fz9lbrxfSo.
December 5, 2024
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