Toncoin (TON) is finally offering what appears to be a crucial buying opportunity for investors. While the token remains 35% below its all-time high, several key metrics suggest that TON’s price may be entering a favorable accumulation zone. 

Since July, TON has struggled to retest the $8 mark despite showing signs of potential breakouts at various points. However, according to this on-chain analysis, there is a strong chance the altcoin could reach that level before the end of 2024.

Toncoin’s Sharpe Ratio and User Growth Indicate Healthier Market

Toncoin’s price is currently $5.29 and has been swinging around the same area since October 11. However, the Sharpe ratio, which measures risk-adjusted returns, indicates that the cryptocurrency has reached a low-risk area.

Using CryptoQuant data, when the Sharpe ratio turns red, it is at a high-risk area that usually foreshadows a price correction. But as of this writing, Toncoin is in the green zone, indicating that the altcoin has provided an attractive option for those wondering if the current price levels might produce favorable returns.

Read more: Top 9 Telegram Channels for Crypto Signals in October 2024

In light of this development, crypto analyst Maartunn suggests that TON is showing signs of recovery. However, in his post on CryptoQuant, he encouraged investors to be cautious and wait before committing significant capital to the altcoin.

“Although I wouldn’t advise buying directly at this moment, it could be beneficial to add it to a watchlist or wait for an extremely low-risk signal before taking action. With the Sha

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Author: Victor Olanrewaju