Recent on-chain data reveals Toncoin (TON) investors maintain significant unrealized profits despite recent market volatility. The average investor currently sits on a 54% profit, showcasing the asset’s resilience in challenging market conditions.
Understanding TON’s Market Position
Glassnode’s analysis shows TON trading well above its Realized Price of $2.43. This gap indicates strong investor confidence. The current price of $3.77 represents a healthy premium over the average cost basis.
Market Metrics Paint a Bullish Picture
The MVRV ratio stands at 1.54, confirming the substantial unrealized profits. TON’s price maintains its position above key support levels. This suggests underlying market strength.
Support Levels and Buying Pressure
The Realized Price acts as a crucial support level at $2.43. Investors typically increase their positions when prices approach this level. This behavior creates natural buying pressure during dips.
Market Implications
The strong holder position suggests reduced selling pressure. Most investors remain in profit, lowering the likelihood of panic selling. However, some recent buyers have realized losses during the latest correction.
Technical Outlook
TON’s price action shows resilience above key support levels. The 3% daily gain indicates potential recovery momentum. The maintained profit margins suggest a healthy market structure.
💎 Trade TON with up to 100x leverage on DeFX
Experience professional-grade trading with advanced order types and deep liquidity
The current market structure suggests potential for further upside. Investors should monitor the $2.43 support level for any significant developments.
Tags: #Toncoin #TON #CryptoTrading #MarketAnalysis #DeFi
Source: NewsBTC