The post Is Toncoin’s Uptrend Sustainable Amid Resistance at $4 and Shifting Market Sentiment? appeared on BitcoinEthereumNews.com.

Toncoin’s recent upswing has captured the attention of the crypto community, presenting a complex narrative of resistance, support, and market psychology. With a significant rally of 19.54% in just a month, Toncoin has emerged as a leading player among high-cap cryptocurrencies, yet challenges remain evident at the $4 mark. According to COINOTAG analysts, “The swift rejection at $4 signals that market participants may be in denial about the underlying trend exhaustion.” Toncoin’s market dynamics show an intense battle at the $4 resistance, with shifting investor sentiment and whale accumulation influencing potential outcomes. TON’s current market standing — Battling $4 resistance On its 1D price chart, Toncoin retraced to $2.45, a key liquidity zone last tested in March 2024. The subsequent aggressive recovery pushed the asset toward a crucial point of resistance at $4, a level characterized by high volatility and significant sell-side absorption. This latest attempt to break through the $4 barrier encountered immediate rejection, suggesting a possible liquidity grab rather than sustained buying pressure. The dynamics within the market indicate an ongoing struggle, bolstered by local distribution trends that could inhibit upward momentum. As a result of this market behavior, short positions took advantage, leading to forced liquidations amounting to approximately $340 million. This deleveraging event has impacted the price, bringing it down to around $3.80 at the time of this report. Source: TradingView (TON/USDT) Currently, Toncoin is making another attempt to breach the $4 threshold. However, the supply zone at $3.93 is critical, encompassing 5.18 million addresses that collectively hold approximately 795.50 million Toncoin. A rejection at this level could trigger additional selling pressure, potentially leading to the risk of distributing about 3.12 billion TON. Source: IntoTheBlock Failure to maintain bullish momentum may lead to a short squeeze, pushing the market into a liquidity trap. However, there is…

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Filed under: News - @ March 30, 2025 10:15 pm