• Buying pressure on Toncoin was high.
• Market indicators mostly looked bearish on TON.

Toncoin [TON] has been able to hold its ground well in the bear market as its weekly chart remained green. Since TON’s performance over the last week looked remarkable, AMBCrypto planned to have a look at its metrics to see whether this trend would last. 

Toncoin’s price action is favoring investors 

AMBCrypto reported a few days ago about TON’s bully rally. Our report pointed out how Toncoin’s value managed to go up by over 30% in just 24 hours.

A few days after TON’s bull rally began, Bitcoin’s [BTC] price crashed, causing the market to turn bearish. However, TON was not affected greatly as its weekly chart continued to remain green.

According to CoinMarketCap, TON was up by over 32% in the last seven days. At press time, TON was trading at $3.81 with a market capitalization of over $13.24 billion, making it the 13th largest crypto.

Interestingly, despite the positive price action, TON’s weighted sentiment dropped, which meant that bearish sentiment around TON was slowly rising. Its social volume also went down, indicating that investors were not talking about the token. 

Investors are buying Toncoin

Since TON’s price action looked optimistic, AMBCrypto took a look at its metrics to see whether investors should

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Author: Dipayan Mitra

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