Key Insights:
- Whale activity continues to surge, signaling long-term confidence in Toncoin.
- Toncoin faces key resistance levels at $4.15–$4.50, with a potential breakout.
- Support levels near $2.50–$3.50 present attractive accumulation zones for investors.
Toncoin ($TON) has seen a surge in large transactions, setting a new record of $34.28 billion last week. Despite recent price fluctuations, whales continue to demonstrate confidence in TON. This surge in whale activity signals growing optimism for Toncoin’s long-term potential.
Whale Transactions Hit Record Highs
According to IntoTheBlock, whale activity in Toncoin spiked sharply. For the week ending Mar. 24, 2025, over 9.03 billion TON tokens worth approximately $34.28 billion traded hands. This rise in large transaction volume suggests whales are positioning long-term and not reacting to short-term price swings.
While retail traders typically react to volatility, whale behavior often reflects long-term conviction. The surge in large transactions may indicate accumulation ahead of a breakout, reinforcing bullish sentiment among major holders.
Toncoin Support and Resistance Levels
Toncoin has several key support and resistance levels that CryptoPatel highlights. Support levels are at $2.50 and the $2.95, $3.33 zone which constitutes the Fair Value Gap (FVG). The $2.50 level is a major demand zone for traders to enter during a strong upward trend. The next levels for breakout in Toncoin are seen in the resistance of the range $4.15–$4.50.
From a long term perspective, Toncoin has a strong potential for growth since it is a native token of Telegram’s TON blockchain and as such has a strong utility. As adoption rises, CryptoPatel foresees Toncoin reaching $10 in the mid term and $50 to $100 in the long term.
Technical Indicators Show Bullish Pressure Building
Toncoin’s daily chart showed strong consolidation. As of writing, TON traded at $3.995, up 2.59% over 24 hours. The recovery from $3.83 back toward $4.00 indicated price stabilization.
The Relative Strength Index (RSI) stood at 61.69, suggesting bullish momentum without entering overbought territory. An RSI move above 70 would signal overheating and increase the likelihood of a pullback.
The Cumulative Volume Delta (CVD) came in at 474.43K, confirming rising buying pressure. This data supports the view that demand is increasing and that bulls are in control for now.
The MACD line at 0.054 remained above the signal line at 0.089, confirming bullish structure. However, the MACD histogram was still small, indicating the rally lacked strong momentum.
Derivatives Data Confirms Growing Interest
Toncoin’s derivatives market also showed strength. Open interest rose 21.02% over the last 24 hours, reflecting increased speculative activity and market participation.
This rise in open interest, paired with growing whale accumulation and strong chart structure, suggests Toncoin is gearing up for its next move.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
The post Toncoin large transactions Hits Record $34B Despite Volatility appeared first on The Market Periodical.
