Psychological Floor Forms at $3.24 Amid Bullish Sentiment
Toncoin (TON) has seen a slight pullback in the past 24 hours, dropping from approximately $3.46 to $3.39, marking a 2.02% decline. Despite this dip, the broader market sentiment around TON remains largely positive, especially as the token continues to trade above a key demand zone.
Crypto analyst Ali Martinez recently highlighted a crucial psychological support level forming at $3.24, noting that 740 million TON were acquired at this level by over 1.21 million wallets. This indicates massive accumulation and signals strong buying interest, making the $3.24 zone a crucial defense line for the bulls.
Over 90% of Holders Are Profitable
According to on-chain data shared by Martinez, 889.87 million TON — valued at around $2.93 billion — are currently “In The Money,” with over 90.26% of holders sitting on gains. In contrast, only 95.46 million TON worth roughly $314.32 million are “Out of the Money,” a sign that most participants remain confident and committed.
With such a large portion of holders in profit, the likelihood of panic selling remains low. Instead, this group could potentially absorb downward pressure by buying more TON if prices revisit the $3.24 support, further strengthening the floor.
Trading Volume and Market Cap Indicate Resilience
At the time of writing, Toncoin’s 24-hour trading volume stands at $758.77 million, reflecting a marginal 0.64% drop. TON currently ranks #16 on CoinMarketCap, with a live market cap of $8.44 billion and a circulating supply of 2.49 billion TON.
The price remains up 7.12% over the past seven days, reflecting sustained bullish interest, particularly following its recent 15% surge amid speculation of a potential Telegram-Grok partnership.
Toncoin’s steady climb has already seen it surpass Shiba Inu (SHIB) in market cap rankings. Now, with strong technical support and positive on-chain fundamentals, TON may be positioning itself to challenge Stellar (XLM) for the 15th spot.
A bullish breakout could further fuel TON’s momentum. For now, as long as the $3.24 level holds, Toncoin seems well-supported for further upside in the crypto market.
The $3.24 zone has emerged as a vital support level for Toncoin, backed by strong accumulation and bullish sentiment. With over 90% of wallets in profit and a potential push toward higher market cap rankings, TON may be preparing for its next breakout phase