Traders Bet Against Toncoin (TON) Recovery as Price Drops Under $5

BE[IN]CRYPTO11-04

Coinglass reveals that most Toncoin traders have opted to short the altcoin after its recent decline. On-chain data shows an increase in dormant TON tokens, indicating that a rebound is not close by....

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTraders Bet Against Toncoin (TON) Recovery as Price Drops Under $5\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-04 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/toncoin-traders-bet-against-ton-recovery/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinglass reveals that most Toncoin traders have opted to short the altcoin after its recent decline. \nOn-chain data shows an increase in dormant TON tokens, indicating that a rebound is not close by....</p>\n\n<a href=\"https://beincrypto.com/toncoin-traders-bet-against-ton-recovery/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MDIA","symbol_name":"Mediaco Holding Inc.","start_time":0,"source_url":"https://beincrypto.com/toncoin-traders-bet-against-ton-recovery/","article_id":"2480530395","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/04/bic_TON_Toncoin-covers_neutral_2-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480530395","pubTimestamp":1730649600,"columns":[],"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Coinglass reveals that most Toncoin traders have opted to short the altcoin after its recent decline.On-chain data shows an increase in dormant TON tokens, indicating that a rebound is not close by.TON's price currently trades below the 20 and 50 EMAs, suggesting that it could slide to $4.46.On November 1, Toncoin  price slipped below $5 after holding the line for several days. Following this drop, traders are betting on further declines, reflecting broader market sentiment as Bitcoin  and other cryptocurrencies have also faced recent losses.However, in TON’s case, this analysis suggests that a recovery may remain challenging, even if the broader market rebounds.Derivatives information portal Coinglass shows that Toncoin’s Long/Short ratio has dropped to 0.88. The Long/Short ratio is a metric used to assess the balance between long-positioned traders  and shorts  in the market.However, the recent rise in MDIA suggests that most TON tokens have remained dormant. If this trend continues,","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MDIA":"Mediaco Holding Inc.","BK4125":"广播","BTC":"Grayscale Bitcoin Mini Trust"},"translate_title":"随着价格跌破5美元，交易员押注Toncoin(TON)复苏","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTC":1,"MDIA":1},"content_text":"Coinglass reveals that most Toncoin traders have opted to short the altcoin after its recent decline. \nOn-chain data shows an increase in dormant TON tokens, indicating that a rebound is not close by.\nTON's price currently trades below the 20 and 50 EMAs, suggesting that it could slide to $4.46.\n\nOn November 1, Toncoin (TON) price slipped below $5 after holding the line for several days. Following this drop, traders are betting on further declines, reflecting broader market sentiment as Bitcoin (BTC) and other cryptocurrencies have also faced recent losses. \nHowever, in TON’s case, this analysis suggests that a recovery may remain challenging, even if the broader market rebounds.\nToncoin Market Sentiment Shifts Bearish\nDerivatives information portal Coinglass shows that Toncoin’s Long/Short ratio has dropped to 0.88. The Long/Short ratio is a metric used to assess the balance between long-positioned traders (buyers) and shorts (sellers) in the market.\nWhen the Long/Short ratio is above 1, it indicates more long positions than short, suggesting that most traders anticipate a price increase. Conversely, a ratio below 1 indicates more shorts, implying a bearish outlook.\nAccording to BeInCrypto’s analysis, 53% of Toncoin traders with open positions are going short, while about 47% are long. This distribution reflects a generally bearish sentiment around the altcoin.\nRead more: What Are Telegram Bot Coins?\nToncoin Long/Short Ratio. Source: Coinglass \nFurthermore, there seems to be a strong rationale behind traders’ positions. On-chain data from Santiment reveals a substantial increase in the Mean Dollar Invested Age (MDIA)—the average age of all tokens on a blockchain, weighted by purchase price. \nA declining MDIA typically indicates active movement of tokens, which can boost the chances of a price surge.\nHowever, the recent rise in MDIA suggests that most TON tokens have remained dormant. If this trend continues, Toncoin’s price could struggle to gain upward momentum.\nToncoin Mean Dollar Invested Age. Source: Santiment \nTON Price Prediction: No Bounce Yet\nToncoin’s price as of this writing is $4.87. According to the daily chart, the altcoin fell below the threshold due to a lack of buying volume. Following this, TON has dropped below the key Exponential Moving Averages (EMAs).\nA rising EMA generally backs an uptrend, acting as a dynamic support level, while a falling EMA often serves as resistance, hindering upward movement. \nAs seen below, TON’s price is below the 20 (blue) and 50 (yellow) EMAs. This indicates that the trend around Toncoin is bearish, and the price is likely to keep dropping. Should that be the case, then the altcoin might decline to $4.46, making most Toncoin traders profitable.\nRead more: 6 Best Toncoin (TON) Wallets in 2024\nToncoin Daily Analysis. Source: TradingView  \nOn the other hand, if the cryptocurrency retests the 23.6% Fibonacci retracement level, the price might bounce to $6.20.\n\n\n\n\nTop crypto projects in the US | October 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | October 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\nChain GPT","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480530395"}