- TON’s short-term holder losses have declined significantly in recent weeks
- TON’s break-even price data revealed that 89.7% of holders were in profit, while 9.5% were out of the money
Toncoin’s [TON] short-term holder losses have declined significantly in recent weeks, signaling a potential shift in sentiment. The fall in losses may be a sign that holders are moving towards profitability, which could boost market confidence.
As short-term holders regain their footing, their renewed optimism may attract fresh capital. This can be expected to fuel sustained price momentum for TON on the charts.
A bullish turning point for TON?
Between 3 February and 21 February, 1-week holder losses dropped from -21% to -3.8%. On the contrary, 3-month holder losses fell from -33% to -29.3%.
Source: CryptoQuant
This steady improvement could allude to a potential recovery phase, especially as short-term capitulation slows down. Historically, shrinking short-term losses have preceded bullish reversals, signaling that holders are regaining confidence and shifting away from panic-selling.
If this trend continues, TON could see a stronger price base, leading to upside momentum on the charts.
Assessing price action’s strength
Further analysis of TON’s 1-hour Binance chart displayed Fibonacci retracement levels, showing the price support at $3.5424 (0.786 level) and resistance near $3.7092 (0 level).
Source: Coinglass
A successful reclaim of 0.618 ($3.6258) could validate a bullish continuation. Meanwhile, the MACD indicator revealed a bullish crossover, with the MACD line crossing above the signal line and a growing green histogram confirming a hike in momentum.
Together, these indicators suggested that TON may be recovering, with key resistance tests ahead.
Strong profitability – Can it fuel further gains?
A look at TON’s break-even price data revealed that at press time, 89.7% of holders were in profit, while 9.5% remained out of the money.
Source: IntoTheBlock
The minimal at-the-money segment (0.79%) suggested that most positions were well-established in profit.
Historically, such a structure has supported bullish sentiment, as profitable holders are less likely to sell aggressively. However, resistance zones near $4.76 and above could act as a barrier if buying momentum fades.
A sign of growing demand for TON
TON’s daily active addresses chart showed a 7-day hike of 10.67%, while new addresses surging by 42.22%. This uptick in new participants hinted at growing network adoption – Something that historically strengthens price stability.
Source: IntoTheBlock
Additionally, zero-balance addresses rose by 58.14%, indicating possible wallet activity where traders consolidated or moved funds. This trend could mean that previously inactive wallets have been re-engaging with the market – A pattern often linked to renewed investor confidence.
More active addresses and new entrants signal growing demand, reinforcing TON’s strength as it recovers.
Finally, TON’s spot netflows revealed a $60.03k net outflow over the past 25 hours – A sign that TON moving out of exchanges exceeded the TON moving into them.
Source: Coinglass
This pattern seemed to be in line with previous accumulation phases, where outflows reduce immediate selling pressure and support gradual price hikes. Sustained outflows could indicate continued accumulation, potentially driving TON’s next leg upwards.
In conclusion, as the trend continues, TON may establish higher support levels, setting the stage for a potential breakout.
