Toncoin (TON) is currently holding steady in a narrow range, having recovered just over 1% as of Monday, despite the headline-making news that Coinbase Ventures has taken a position in TON.
The move reinforces expectations of a near-term breakout above the crucial 200-day Exponential Moving Average (EMA). The TON Foundation confirmed that Coinbase Ventures now holds Toncoin, joining notable backers such as Sequoia Capital, Benchmark, and Ribbit Capital. However, the foundation has not disclosed the exact token amount acquired.
Meanwhile, CoinGlass data reveals that long positions have climbed to 50.43%—up from 48.71%—on taker buy-to-sell volume within just 24 hours. This shift signals a growing bullish sentiment among traders.
Toncoin’s Double-Edged Consolidation Range
Toncoin (TON) has traded in a narrow technical range over the past five sessions, wedged between the 100-day and 200-day Exponential Moving Averages (EMAs). The…
