The post Toncoin: Amid massive buying pressure, TON targets $4.5 and $4.8 appeared on BitcoinEthereumNews.com.

Toncoin price movement has had a low correlation with major crypto assets over the past month. The rising OBV and the bullish market structure meant there was room for more gains. Toncoin [TON] staged an aggressive recovery from $2.5 earlier in March. Since forming the monthly lows at $2.35, TON was up 66% in three weeks. The rally also meant its market structure was bullish on the 1-day chart, and traders and investors can expect the trend to continue. Source: IntoTheBlock The token noted a curious lack of correlation with other popular crypto assets. Data from IntoTheBlock showed that it had a +0.53 30-day price correlation with Shiba Inu [SHIB] and a +0.23 correlation with Bitcoin [BTC]. This indicated that Toncoin wasn’t following any of the major tokens, but just running its race. Toncoin can push beyond $4 soon The lack of correlation with BTC over the past month was a slight encouragement to the bulls. It meant that TON was already unshackled, and its bullish momentum could continue even as BTC fell toward $80k. Source: IntoTheBlock The in/out of the money around price showed the $3.83-$3.94 region had seen 673 million TON purchased. These holders were in profit on their Toncoin, and a retest of this demand zone might not spark selling pressure. Hence, it can be expected to serve as support. The resistance levels higher appeared much smaller by comparison, with only the $4.42-$4.54 area was expected to offer stern opposition. Source: Santiment The network activity has been rising in March alongside the price. The daily active addresses’ 30-day moving average has made a higher low compared to the second week of March. This signified increased activity and demand for TON. The rally saw the dormant circulation spike multiple times over the past week. This implied increased token…

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Filed under: News - @ April 1, 2025 1:17 am