Toncoin Price Explodes With 17% Rally — Can TON Sustain The Momentum?

The Toncoin (TON) price has seen significant growth in the past week, outperforming large-cap assets like Bitcoin. Despite a slow start in November, TON has been on an upward trend, with double-digit returns. An analyst on CryptoQuant predicts that the bullish momentum could continue based on on-chain signals. The 90-day percent return has turned positive, indicating increased investor confidence and anticipation of higher prices. Another bullish signal is the positive change in open interest, suggesting a continuation of the current trend. As of the latest update, the price of Toncoin stands at around $6.526, up almost 18% on the weekly timeframe. The price has been moving mostly sideways since falling to around $4.5 in September before climbing to its latest high this month. The question remains whether the Toncoin price can sustain this bullish momentum. The recent bullish run pushed the price of TON back above $6.5 for the first time since late August. Overall, the Toncoin price has been one of the brightest spots in the cryptocurrency market, with potential for further growth based on current on-chain signals.