It’s crazy that TONCoin (TON) has gone up 28% in just one day, breaking through the $5.5 mark and getting everyone in the crypto world very excited.
Many people still don’t know what will happen with this mysterious digital asset, even though supporters are glad that a major resistance level has been passed.
An important part of the market is the futures market, where people are worried.The long-term picture looks good, but there are signs that futures trading is getting too heated, which is a cause for worry.
TONCoin’s Meteoric Rise Amid Speculative Concerns
Speculators are balancing on positions with too much debt, and the fear of a mass exodus could dampen the excitement surrounding TON’s meteoric rise.If you look more closely at TONCoin’s rally, you can see that it’s riding a huge wave of positive emotion.
With more trades happening, TON broke through the $5.68 mark, confirming its bullish attitude. Still, hidden problems, especially the $5.55 pushback, cast doubt on its path. The technical signs for TONCoin are more complex when you look at them more closely.
Even though the Relative Strength Index (RSI) showed a bearish divergence, TON resisted a major drop and stayed above $4.77. This was made possible by strong buying support, shown by the rising On-Balance Volume (OBV). With goals as high as $7.15 and $8.05, TON shows that it can handle doubt.
However, stories of caution show up in the middle of the happiness. The fact that reporters has seen different levels of liquidation suggests that the market is vulnerable, which raises the possibility of general pain in the event of a downturn. Still, some experts see this as a necessary correction and a chance to get people excited about speculation again.
