The Open Network (TON) has seen a notable rise in social activity recently, largely due to the coin minting launch for one of its mini-apps, Hamster Kombat. This increased attention has made Toncoin one of the market’s trending assets, with both bullish and bearish signals present.
Toncoin’s social volume spiked above 400 in the last two trading sessions, a significant rise compared to previous weeks. However, sentiment remains predominantly negative. At the time of writing, Toncoin is trading at $5.933, slightly above its 50-day moving average of $5.755 but below its 200-day MA at $6.209. This suggests a possible short-term bullish reversal within a longer-term bearish trend.
Parabolic SAR indicates bullish momentum, as dotted markers are positioned below the price, while the Average True Range (ATR) of 0.302 points to moderate volatility. If Toncoin manages to break through the 200-day MA, it could strengthen its upward trend. On the flip side, failure to maintain support above the 50-day MA could lead to a decline towards $5.50. Toncoin’s trading volume and TVL have both increased, signaling rising interest in the asset.