TON: Profit-Taking or Just Another Crypto Mirage? 👻

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Ah, Toncoin [TON]. A digital phantom flitting about the $1.70 mark for, what feels like, an eternity. One remembers January, a brief flicker of hope when Bitcoin [BTC] – that grand old manipulator – briefly dared to flirt with $90k. A pitiful imitation of exuberance, frankly. 😒

Bitcoin, naturally, has regained its composure – wallowing comfortably above $94.5k as support (as if it had anywhere else to go). But our Toncoin? It’s been… less assertive. A rather glum 1.29% decline over the past seven days. One almost feels sorry for it. Almost. 🙄

Some report, and I use the word loosely, highlighted the significance of the $1.70 barrier. Break it, they say, and a short-term rally might ensue. As if the market cares for such polite suggestions. Perhaps if one were to offer it a bribe…

The on-chain metrics, naturally, demonstrate that a great many people bought this thing at various times. And now, those people are getting itchy fingers. The 90-day MVRV ratio has seen a rather noticeable… upswing. This, my friends, means profit-taking. A most unpleasant prospect for those late to the party. 💸

“Open Interest” has surged, a meaningless metric if ever there was one, while the “mean coin age” wanders aimlessly. A lack of accumulation, they call it. I call it a pronounced lack of conviction. People are accumulating… dust.

What the price charts reveal for TON holders (God help them)

The weekly trend is definitively bearish. As if one needed charts to tell them that. The bulls, those optimistic fools, have a rather impossible task ahead of them – conquering $3.75. More than double the current price, you understand. A Herculean effort, or, more likely, a spectacular failure.

Beyond that level, a bullish trend might manifest. But one shouldn’t hold one’s breath. It affects the complexion, you know.

The OBV (On Balance Volume) hasn’t descended to new lows in the past two months, a minor consolation, like finding a single kopek in a deserted alley. $2.3-$2.4 and $2.8 represent… supply zones. Zones of impending disappointment, if you ask me.

Traders’ call to action: Go long and don’t forget to take profits (because it won’t last)

Ah, traders. Always seeking an angle. There’s a fleeting bit of bullishness detectable on the daily chart. The OBV and the volume bars suggest buying in late December. A brief, frantic spasm of hope.

The $1.70 level, having been overcome, now offers a modicum of support. A mirage painted upon the sand, if you will.

Swing traders, those dedicated gamblers, may venture a purchase. But they should be prepared to seize profits at $2.16 and $2.37. And for goodness’ sake, if it dips below $1.56, run. Don’t look back. It’s a trap! 🏃

Final Thoughts

  • Toncoin’s network does not seem to be accumulating much of anything besides regret.
  • A climb to $2.0 and $2.37 is, perhaps, conceivable. But swing traders? They must prepare to abandon ship at a moment’s notice. Like rats fleeing a sinking vessel.

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2026-01-19 04:11