Toncoin Price Inches Closer To All-Time High – Will TON Hit $8 This Week?

Christian Encila

11 months ago

3 mins read

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A fantastic example of the volatility that characterises the cryptocurrency market is Toncoin (TON), which has a history of extremely volatile price swings. Even for experienced investors, the frequent and large price fluctuations can be disorienting.

A time of unsettling stability, nevertheless, appears to be what TON is about to experience, according to recent patterns. A possible spike in volatility is supposedly on the horizon, and this surprising quiet has analysts talking.

Low Volatility Hints At Brewing Storm

The data analytics company CryptoQuant has published statistics showing that TON is trading close to its all-time high right now. This spike, however, has been accompanied by an unexpectedly low level of volatility, in contrast to other surges that were marked by jaw-dropping price jumps.

According to statistics from Coingecko, TON has increased 4.7% over the past seven days, but it has down 2.4% in the previous 24 hours, trading at $7.83 as of this writing. If this number holds, TONNE will set a new record high of $8 in the near future.

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

A chart reflecting this shows a constant increase in price with relatively calm “blue bars,” which are likely to indicate levels of volatility. Experts at CryptoQuant see the current relative quiet as a precursor to an impending storm. They indicate a trend in Toncoin’s history where significant price movements, both up and down, have occurred after periods of relatively low volatility.

Toncoin Potential Price Surge

The present low-volatility phase of TON’s price and CryptoQuant’s examination of TON’s volatility history lead analysts to predict that volatility will soon grow significantly. Additional projections indicate that by August 2nd, 2024, the price of Toncoin might have increased by as much as 227%.

For investors, the possibility of a significant price increase is undeniably appealing. Keep in mind, though, that extreme volatility also comes with the risk of a precipitous decline in price.

TON up in the last week. Source: Coingecko

Investor Guidance In A Volatile Market

Investors face a pivotal decision point at the present stage of Toncoin. A period of consolidation, when the market consolidates before a large price movement (upwards or downwards), might explain the token’s relatively stable performance.

Toncoin market cap currently at $19.1 billion. Chart: TradingView

Using on-chain metrics—data points produced by blockchain activity—can assist investors negotiate this anticipated rise in volatility, according to CryptoQuant. Investors may learn a lot about market mood and maybe even forecast the future volatility by looking at indicators like trade volume, active addresses, and transaction counts.

Looking Beyond CryptoQuant

If investors want a complete picture, they should consider adding CryptoQuant’s opinion to it together with other credible experts’ thoughts. To gain a more complete picture of possible market shifts, it could be helpful to consult price forecasts and technical analysis indications from other sources.

The market variables impacting the price of TON can be better understood by delving into the on-chain measurements. One way to do this is to track changes in things like the average size of transactions, the amount of new wallets produced, and the amount of money coming into and going out of exchanges.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.