The cryptocurrency TONcoin (TON) recently avoided a potential drop below $5 and is now showing signs of a possible recovery. This turnaround could happen if TON holders take advantage of this opportunity to increase their investments. Historically, a recovery usually follows when TON’s market value to realized ratio (MVRV) falls into the 10-20% range, indicating an accumulation phase that could push prices higher.
Analysis and Prediction
Currently priced at $52, TON is close to the crucial resistance level of $54. Breaking through this level could confirm a bullish trend as $54 has been a significant resistance point in the past. If TON can hold its current support level, it may reach $60. However, failure to break the resistance could lead to a drop to the $47 support level, potentially reversing the bullish outlook.
Investor Strategy
Investors and traders should keep an eye on the Moving Average Convergence Divergence (MACD), which is close to a bullish crossover, indicating possible market approval of TON’s value. A confirmed crossover could further support the recovery narrative, making this a crucial moment for decision-making.