Toncoin Metrics Align to Keep TON Far Away from $7 📉
Toncoin (TON) struggles as key on-chain metrics show underperformance compared to other altcoins, with its price hovering below $5. Large investors are selling, creating negative netflow and putting downward pressure on the price.
The declining netflow and selling by short-term holders are detrimental to TON's potential recovery. The "Addresses by Time Held" data shows short-term investors are exiting, further affecting TON's value.
In terms of price action, TON is trapped in a descending triangle pattern, a bearish sign suggesting continued selling pressure. Attempts to rise above $4.95 failed, indicating resistance and potential for further decline toward $4.45.
For a rally to $7.27 to occur, a shift to bullish momentum in Toncoin metrics is necessary, supported by renewed short-term adoption and large investors accumulating tokens again.
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