Toncoin (TON) Surges: Key Signals And Strategies For Maximizing Profit
Toncoin (TON) has made a strong comeback in the last few weeks, and this has raised eyebrows across the crypto space. Investing in TONs rebound shows that even in an environment with a high level of unpredictability, it is possible to generate profits as long as certain strategies and market signals are utilized.
In his recent post on X, Matthew Dixon explained that trading is a very chaotic process. Although the market is unpredictable most of the time, having a proper risk and reward strategy along with paying attention to well-established signals can provide the trader with an advantage.
He mentioned the recent recovery of TON from the low levels that has been supported by regular bullish divergence. However, the analyst claims that it may be the right time to take profits, implying the bearish divergence that can mark the beginning of a bear run.
Toncoins Strong Recovery
Approximately two weeks ago, TONs value took a nosedive, causing worry among investors. Still, the altcoin managed to display its stamina and is constantly striving to regain its previous price trends. This recovery has put Toncoin back among the top cryptocurrencies by market capitalization, which shows the potential for the asset to recover in volatile market conditions.
TON short-term investors have begun to reap benefits from the recent spike in the altcoins price. A look at the daily price chart of Toncoin showed that the token rose to its highest point in about three weeks in its last trading session. In particular, it increased to the level of about $5. 77 after a 3.5% growth was marked on September 13. This was a recovery for Toncoin that had earlier dipped by more than 30% between August 24 and September 6.
TON has not yet been able to reach its previous peaks and is still in recovery; nevertheless, the current trend is bullish. As of the time of writing, Toncoin is about $5.62, reflecting a marginal decline of 2% as of press time.
Bullish Momentum for Toncoin
The RSI has also breached the center level suggesting that the bulls are gaining the upper hand in the price action. If this trend continues, this development could even see the altcoins price skyrocket even further.
An examination of Toncoins 30-day MVRV ratio also points to the recovery path. In the bear market, the MVRV was negative and reached -18% demonstrating that investors were losing money. But after the recent increase in prices, the MVRV ratio has reached around 6.2%.
Source: Santiment
The recent surge in Toncoins price is a clear indication of the constantly changing and volatile nature of the crypto market. Despite the fact that volatility is a continuing threat, the TON comeback shows what can be achieved through effective trading and risk management even in such conditions.
Read more: https://www.tronweekly.com/toncoin-ton-surges-key-signals-and-strategies/
Text source: TronWeekly
