During the US trading session on Wednesday, the encryption market recovered, as Bitcoin recorded a 1 % increase to restore 96,000 dollars. Since this height is not enough to start the momentum of recovery in the wider market, some assets such as Toncoin are still struggling with great support. However, the increasing participation in the TON’s TVL funds hints to the possibility of renewing the bullish momentum.
HIGHLIGTHS Main:
- Toncoin’s correction has witnessed renewed pressure on demand for a long -destined support line.
- Long -length candle at 3 dollars, hints when the demand pressure is renewed while the market is being embodied
- The Si -moving average can last for 50 days as a dynamic resistance against buyers.
TON sees low liquidity, yet it acquires momentum
In a recent tweet, encryption analyst Joaowedson The trend of decrease in the total value of the TVL (TVL) value is highlighted at $ 171.1 million currently. This declining trend indicates a possible decrease in the network activity or a decrease in investor confidence in the Defi protocols. However, although the total recession in TVL, the interesting shift is emerging – clear participation reaches record levels.
The main indicator, that the ratio of Ten TON TVL, which measures the ratio of TVL for liquid and assembly gatherings for the total TVL, rises steadily. This indicates that although the total liquidity in the network is low, a greater share of the closed money is directed towards attention.
This trend highlights an investor’s behavior because they prefer more stable rewards over high -risk exposure. This closed money also reduces the size of the offer available for sale, which enhances the ups in the ups of assets.
The price of Toncoin defends the main direction line of support
With a 5 -day decrease, the price of Toncoin decreased from the 3.8 -dollar level to the current trading price of $ 3.54, with a loss of 8.4 %. The disposal of Altcoin has pushed to a long -powering support line for daily plans since June 2023.
Historically, every reflection of this support has strengthened the price of a ton with a renewed rise and a large recovery. On the third of February, the daily chart shows a long rejection of this dynamic support, indicating that buyers continue to accumulate when the market is declining.
A 28 % probably bounce can lead to 2.6 % of resistance to challenge the main resistance level of $ 4.6.
On the contrary, TON TON can enter a major correction if sellers violate the lower direction line.
Also read: SFC Grant License in Hong Kong to Bullish for Virtual Asset Trading
