Toncoin (TON), the cryptocurrency linked to Telegram, has outperformed the broader market, surging 14% since July 24. Currently trading around $4, both on-chain and technical indicators suggest more upside is likely.
Key Factors Driving the Optimism:
- Liquidation Heatmap: Data from Coinglass shows a significant cluster of liquidity near the $3.77 price zone. This indicates strong interest from traders, with a high number of buy orders or short-covering positions that could trigger a fresh rally.
- Healthy RSI: Toncoin’s Relative Strength Index (RSI) is at 67.21, which is below the overbought threshold of 70. This suggests there's still room for the price to grow before buyers become exhausted.
- Positive Funding Rate: Despite market volatility, Toncoin's funding rate has remained positive at 0.0061%. This confirms that the majority of futures traders are bullish, paying a premium to hold long positions and showing strong confidence in the token's upward momentum.
With this combination of positive indicators, Toncoin appears to be in a strong position to continue its rally, with a potential to breach the $4 mark in the near term.
August 2025, Cryptoniteuae