Toncoin Price Vulnerable as Weak Hands Surge: Could a 10% Drop Be Next?

In Brief:

Toncoin (TON) price is vulnerable to another downturn as metrics indicate a surge in weak hands and decreased holding time.

If demand doesn't increase, TON risks falling 10% to around $6.19, despite recent hopes of recovery.

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Toncoin Price Vulnerable as Weak Hands Surge: Could a 10% Drop Be Next?

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Toncoin (TON) saw a brief rise above $7 on August 14, but the price has since fallen to $6.76, exposing the altcoin to potential decline. Metrics such as Mean Dollar Invested Age (MDIA) and Coins Holding Time indicate a surge in weak hands, suggesting increased transaction activity and a lack of long-term holding conviction.

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TON Price Prediction: a 10% Fall Seems Possible

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The recent price decrease aligns with predictions of an unsustainable rally. Historical data shows that TON's current trading zone around $6.75 has previously triggered significant declines. If demand doesn't increase, the price could fall to $6.19. However, increased demand might push the price to resistance at $7.26.