Notcoin

Core

Value

Dogecoin

Ton price experienced over 300% gains in the past three months without any significant pullbacks. Since Notcoin came to the scene in February, volume began to trickle into the chain, and price closely followed.&nbsp; However, Santiment data shows the TON price might be turning bearish, as it has the highest MVRV Z-Score among large-cap cryptocurrencies. 
Over the past week, Ton declined by 7.9% but recovered by 2.2% in the last 24 hours, trading at $6.75. This recent increase, part of a broader market recovery, is likely due to the recent rise in Bitcoin’s price following the start of the Bitcoin conference in 2024. 
<h2 id="b-mvrv-z-score-predicts-correction-for-btc-doge-eth-and-ton-price-b">MVRV Z-Score Predicts Correction for BTC, DOGE, ETH, and TON Price</h2> 
The Market Value to Realized Value (MVRV) ratio is an on-chain metric used to assess the profitability of a crypto asset. A high MVRV value signals a high amount of unrealized profit in the market, which can result in increased selling pressure, while a low MVRV indicates just the opposite. Incorporating the Z-score allows investors to predict overvalued and undervalued markets. 
Data from <a rel="nofollow" href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22toncoin%22%2C%22ticker%22%3A%22TON%22%2C%22from%22%3A%222022-09-29T00%3A00%3A00.000Z%22%2C%22to%22%3A%222024-07-26T20%3A59%3A59.389Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22sentiment_positive_total%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23FF5B5B%22%5D%2C%22ws%22%3A%7B%220%22%3A%7B%22interval%22%3A%221d%22%7D%7D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22mvrv_usd_z_score%22%2C%22%5B1%3Bmvrv_usd_z_score%3Bdogecoin%3BDOGE%5D%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23FF5B5B%22%2C%22%23FFCB47%22%5D%7D%5D">Santiment</a> shows Ton is among four large-cap crypto assets with the highest MVRV Z-Score in the last three and a half months. 
<figure id="attachment_209605" aria-describedby="caption-attachment-209605" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209605" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.18-1.jpeg" alt="Large Cap Crypto Assets With MVRV Z-Score Above 0 | Source: Santiment" width="1176" height="696" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.18-1.jpeg 1176w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.18-1-300x178.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.18-1-768x455.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.18-1-150x89.jpeg 150w" sizes="(max-width: 1176px) 100vw, 1176px">
 <figcaption id="caption-attachment-209605" class="wp-caption-text">
 Large Cap Crypto Assets With MVRV Z-Score Above 0 | Source: Santiment
 </figcaption>
</figure> 
This suggests that investors may consider selling and taking profit as the asset could be overvalued. TON’s market cap currently sits at $16.9 billion, a surge from $5 billion in a little over 3 months. Ton MVRV Z-score sits at 5.09, followed by Bitcoin at 2.2, Ethereum at 0.95, and Dogecoin at 0.5. 
Despite the sell signals on on-chain metrics, Ton developers continue to build. The most recent development is the launch of the <a href="https://coingape.com/ton-introduces-w5-smart-wallet-for-gasless-transactions-heres-all/">W5</a> smart wallet that will allow users to make gas-free transactions on the network. It is a collaborative effort between the TON Core team and Tonkeeper. 
<h2 id="b-ton-price-analysis-indicators-point-to-potential-sell-signal-b">TON Price Analysis: Indicators Point to Potential Sell Signal</h2> 
<figure id="attachment_209606" aria-describedby="caption-attachment-209606" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209606" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1.jpeg" alt="TONUSDT Price Chart | Source: Tradingview" width="1280" height="539" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1-300x126.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1-1224x515.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1-768x323.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-26-at-11.48.27-1-150x63.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-209606" class="wp-caption-text">
 TON Price Chart | Source: Tradingview
 </figcaption>
</figure> 
The <a href="https://coingape.com/price/toncoin">price of TON</a> is trending below the 50-day but above the 20-day exponential moving average (<a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a>). The asset established an all-time high price of $8.28 on June 14 before it retreated. 
Key support levels for TON/USD price include the immediate $6.20, $5.53 (200 EMA), and $4.78. Conversely, if the price bounces from these support levels, it may rally to test the previous ATH, encountering resistance around $7.12 (50 EMA) and $7.65. 
The Relative Strength Index (<a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a>) is below the midpoint at 39.99 and heading downward. This indicates bearish momentum is building on the Ton and may drive the price into the oversold area. The Chaikin money flow (CMF) just dipped below the zero line, indicating capital outflow and increasing sell pressure on the asset. A zone market imbalance (Fair Value Gap) between $2.9 and $3.58 must be filled. 
Despite these bearish signals and the potential for further downward movement, Ton’s fundamental strength remains intact. The project’s underlying value and potential continue to support its long-term outlook, even as short-term market dynamics pose challenges. 
The post <a href="https://coingape.com/markets/ton-price-flashes-multiple-sell-signals-should-you-sell/">TON Price Flashes Multiple Sell Signals, Should You Sell?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

TON Price Flashes Multiple Sell Signals, Should You Sell?

目录

Coingape News Media

发布于 2024年7月26日的其他文章

AAVE’s Peaceful Might Against a New Crypto’s Furious Ambition in 2024

Argentina Allows Bitcoin in Company Capital

Twitter Removes Bitcoin Hashtag, Prompting Speculation on Crypto Stance

Ripple Lawsuit: Former SEC Lawyer Warns Against Overly Optimistic Settlement Expectations

Bitcoin Price Surpasses $67,000 as MTGOX Holdings Dwindle

New Memecoin Pepe Eats Solana Will Skyrocket to $10 Million Ahead of Exchange Listing, As SHIB an...

订阅我们免费的电子期刊，获取每日最新加密领域动态！