Bittime – When Bitcoin (BTC) dropped in May, TON bucked the trend with a 21% surge this week. Is this just a short-term rise or the start of a sustainable rally?
TON Capable of Outperforming Bitcoin?: Analyzing Key Metrics
A closer look reveals interesting signs. TON social volume has skyrocketed by more than 20% compared to the previous week, indicating renewed interest and potential increased buying pressure.
Interestingly, the “average age of dollars invested” also shows a gradual increase, indicating that tokens are being held for a longer period, which could be a signal of accumulation.
Analysis by Akashnath S | Source: Santiment
Dormant Circulation: Indicator That TON Hodlers Remain Calm Despite Rising Prices
However, one metric provides a unique picture. Dormant circulation, which measures the movement of old tokens, has remained calm since the spike on April 10, coinciding with the previous local peak.
This lack of movement suggests that large-scale selling may not be imminent, but it also does not guarantee continued upward momentum.
Technical Analysis: Focus on Fibonacci Levels
Technical indicators offer a glimmer of hope. TON's recent surge has pushed it past the 78.6% Fibonacci retracement level, indicating that the downtrend towards $4.6 may be over.
Analysis by Akashnath S | Source: TON/USDT on TradingView
The 161.8% and 200% extension levels, located at $9.61 and $10.8 respectively, could be potential profit targets for optimistic investors.
Check Today's Crypto Market:
Toncoin Price TON to IDR Today
According to Bittime Exchange the price of TON to IDR today (14/05/2024) is at IDR 114,593 and over the last 24 hours it has decreased by -0.46%
TON to IDR via Bittime Exchange
Also Read How To Buy Crypto:
Conclusion
TON's recent performance is undoubtedly impressive. The combination of strong social volume, increasing token holding time, and favorable technicals shows potential for continued growth.
However, keeping an eye on dormant circulation metrics for any sudden spikes remains important research.
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How to Buy Toncoin (TON) on Bittime
You can buy and sell Toncoin (TON) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Toncoin (TON) is available on Bittime with the market pair TON/IDR . To be able to buy TON/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Toncoin (TON) on Bittime.
Monitor price chart movements of Toncoin (TON), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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