- Over 240K TON moved to exchanges, increasing selling pressure and affecting Toncoin’s price.
- Toncoin tests key support at $4.80, with a potential bounce if the level holds.
- Open Interest Delta signals possible price reversal, suggesting a potential recovery for Toncoin.
Toncoin— TON, has been facing some major turbulence recently. After Pavel Durov’s arrest in August 2024, over 890,000 TON were quickly sold, causing a sharp drop in price. The market has remained volatile since, with another 240,000 TON moving to exchanges just last week. These large transfers have increased selling pressure, showing that investor anxiety is growing. As a result, Toncoin’s price continues to slide, leaving traders questioning what’s next.
Rising Selling Pressure and Its Effects
The flow of Toncoin to exchanges has directly impacted the price, which has been falling steadily. If more tokens continue to flood the crypto market, the price may fall even further. For some traders, however, this could present a buying opportunity. The market might be setting up for a rebound if the conditions are right.
Geopolitical events, especially the arrest of a prominent figure like Durov, have shown their power to shake up the market. Since Toncoin is closely associated with Pavel Durov, these events hit especially hard. The drop in price reflects a shift in market sentiment, leaving investors nervous. The question is whether this selling pressure will keep increasing, or if things will settle down soon.
Does the Open Interest Delta Signal a Reversal?
Despite the current sell-off, there’s a glimmer of hope for Toncoin. The Open Interest Delta has been rising, and this is often a sign that a price shift could be on the way. We’ve seen similar patterns before—back in mid-2024, when a spike in OI led to a significant price rise. A similar increase was observed on January 25, 2025, suggesting that Toncoin might be on the verge of a rebound.
Another factor to keep in mind is Toncoin’s support level at $4.80. This has been a key price point in the past, with Toncoin showing resilience every time it tested this level. As more unique addresses join the network, interest in Toncoin seems to be growing. This could give the market the confidence it needs to bounce back.
Traders should keep an eye on these key indicators. If the OI trend continues and the support level holds, Toncoin could be ready for a recovery. For those watching the market closely, this might be the right moment to take a position, hoping for a positive turn in Toncoin’s price.
