An analysis of recent whale activity in Toncoin （TON） suggests potential price declines due to large token withdrawals.
Points
- Toncoin trading at $6.79, with potential for further decline.
- Significant decrease in TON Large Holders’ Netflow by 97.05%.
- Whales sold 1.4 million TON tokens from July 21 to 28.
- Indicators such as AO and MACD suggest a bearish trend.
Whales Dump Toncoin, Raising Market Concerns
Toncoin （TON） faces a potential price decline due to significant withdrawals by whale investors. Whales, entities or individuals holding large quantities of TON, heavily influence market prices through their buying and selling activities.
According to IntoTheBlock, TON Large Holders’ Netflow decreased by 97.05% in the past week. This stark drop contrasts with large inflows observed weeks earlier. Netflow, calculated as the difference between large inflows and outflows, turns negative when whales sell more than they buy. Between July 21 and 28, whales offloaded 1.4 million TON tokens, hinting at a possible price drop if this trend continues.
As TON’s price increased, the ratio of daily on-chain transactions in profit to loss peaked since July 19. This ratio indicates whether token holders are realizing losses or profits. A negative ratio shows more losses than gains. The recent price uptick led to profit-taking, which could halt TON’s uptrend if selling pressure intensifies.
TON Price Prediction: The Bounce Is Not Strong Enough
Daily chart analysis reveals that Toncoin’s price increase lacks strong support from vital indicators. The Awesome Oscillator （AO）, which measures market momentum, remains negative. A positive AO reading indicates upward momentum, while a negative reading suggests a decrease, as seen with TON. Similarly, the Moving Average Convergence Divergence （MACD） indicator is bearish, reinforcing the downtrend possibility. If selling pressure persists, TON’s price might drop to $6.57 or even $6.02.
Conversely, if whales start accumulating TON, the price could rebound, potentially reaching $6.90 and $7.18.
解説
- Whales’ Influence: Large holders significantly impact TON’s price due to their substantial token holdings. Their selling or buying actions can lead to sharp market movements.
- On-Chain Transaction Ratio: A higher profit-to-loss transaction ratio can lead to increased selling pressure, potentially driving prices down.
- Technical Indicators: AO and MACD are crucial for predicting market trends. Negative readings from these indicators suggest a bearish market sentiment for TON.