Cryptocurrency TON can update the historical record after a series of falls

Toncoin (TON) has encountered difficulties while trying to break the $ 6.00 barrier, which has led to an 11% drop in the altcoin’s price. At the time of writing, the token is trading around $ 5.36 and is trying to regain an important support level.

One of the key factors affecting the market sentiment around Toncoin is the share of investors who are in the black. Currently, their number is less than 3%.

Usually, a higher number of addresses in profit hints at an imminent sell-off, which could trigger a price drop. However, the opposite situation suggests that investors will hold their positions in anticipation of future growth.

Technical indicators are also showing signs of recovery. The Chaikin Cash Flow (CMF) indicator, which tracks capital inflows and outflows, has bounced off the zero line. This suggests that investors are starting to buy Toncoin again, which is important for the price to rise.

Currently, TON is trying to regain the $ 5.37 level as support. A successful consolidation above this mark is essential for the asset to be able to rise to $ 5.96, a key resistance point.

Current market and macroeconomic factors support the possibility of a breakout of the next important barrier at $ 5.96. Continuous capitalization growth and low sales pressure create favorable conditions for Toncoin’s recovery.

However, if investors begin to take profits after the breakout above $ 5.37, the bullish trend will weaken significantly. In this case, TON may remain below $ 6.00, which will reduce its potential for further growth.