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TON Price Reversal Incoming? Open Interest Signals a Shift
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- Toncoin’s price faces resistance at $4.92, signaling potential upward movement.
- Increased volume and declining open interest suggest shifting market sentiment.
- Liquidation data points to caution, with higher short positioning in derivatives.
Toncoin (TON) has seen some price swings lately, and the market is giving mixed signals. As the price tests critical support and resistance levels, traders are keeping a close eye to see if a reversal is coming.
With a noticeable increase in 24-hour trading volume, along with a slight dip in open interest, there are strong indications that a shift in market sentiment could be near.
Toncoin’s Current Price and Market Performance
At the time of writing, Toncoin’s price is $4.85, down a slight 0.81% over the past 24 hours. Even so, the market capitalization is still a hefty $12.06 billion, showing the strength of the overall asset.
Trading volume in the past 24 hours has spiked to $143.78 million, showing a 14.24% increase. This suggests that market participants are either accumulating or taking profits. This activity adds an element of uncertainty to the immediate price action.
Toncoin’s Price Trend: Key …
The post TON Price Reversal Incoming? Open Interest Signals a Shift appeared first on Coin Edition.
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TON Price Reversal Incoming? Open Interest Signals a Shift
Share:
- Toncoin’s price faces resistance at $4.92, signaling potential upward movement.
- Increased volume and declining open interest suggest shifting market sentiment.
- Liquidation data points to caution, with higher short positioning in derivatives.
Toncoin (TON) has seen some price swings lately, and the market is giving mixed signals. As the price tests critical support and resistance levels, traders are keeping a close eye to see if a reversal is coming.
With a noticeable increase in 24-hour trading volume, along with a slight dip in open interest, there are strong indications that a shift in market sentiment could be near.
Toncoin’s Current Price and Market Performance
At the time of writing, Toncoin’s price is $4.85, down a slight 0.81% over the past 24 hours. Even so, the market capitalization is still a hefty $12.06 billion, showing the strength of the overall asset.
Trading volume in the past 24 hours has spiked to $143.78 million, showing a 14.24% increase. This suggests that market participants are either accumulating or taking profits. This activity adds an element of uncertainty to the immediate price action.
Toncoin’s Price Trend: Key …
The post TON Price Reversal Incoming? Open Interest Signals a Shift appeared first on Coin Edition.
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In This News
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Crypto News: US Congress Gambles on Zero-Budget Task Force After Americans Hemorrhaged $10B to Scams