Are you ready to dive into the world of Toncoin and uncover some intriguing insights regarding its recent price movements? Fast forward to September 2024, and Toncoin is exhibiting signs of a familiar fractal pattern. The price has completed another rounded top formation and is currently testing a crucial support level around $5.13.
But here’s where it gets interesting – the similarities to the pattern seen in 2022-2023 are uncanny. If history repeats itself, Toncoin could be on the brink of a sharp decline to the next support level at $3.41, marking the completion of the bearish phase of this fractal. However, there is also potential for a rebound with TON’s price potentially reaching $9.77, corresponding with the 1.0 Fibonacci retracement level, leading to a 50% rally by the end of 2024.
But that’s not all. Toncoin’s largest holders, known as “whales,” have also played a significant role in shaping market dynamics. Data from Santiment indicates that the TON supply held by the wealthiest wallet cohort, those holding between 1 million and 10 million TON, surged on August 26. This spike in holdings came just two days after Pavel Durov’s arrest in France was announced.
So, what does all this mean for Toncoin investors and enthusiasts? Stay tuned to Extreme Investor Network for more unique insights and analysis on Toncoin, the latest market trends, and exclusive tips to help you navigate the complexities of the stock market with confidence and success.