Toncoin heats up: What does $398M in trading volume indicate?

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Toncoin saw an increase in volume in the last 24 hours, which, coupled with other metrics, initiated a bearish stand from traders.

over the last 24 hours makes it a focal point for market observers. As traders intensify their activities, analyzing their behavior becomes crucial to predicting potential price directions.has experienced a substantial spike in trading volume over the last 24 hours. The data showed an increase of over 80%.

The dramatic increase in volume within such a short period is noteworthy as it indicates heightened trading activity, which could lead to increased price volatility.on a daily time frame chart revealed a positive trend overall despite a recent downturn in the last 24 hours. The chart indicated that TON closed trading on 23rd June with an increase of over 2%, reaching around $7.5.

However, the fact that it has declined from a higher point suggests that Toncoin is experiencing selling pressure. The selling pressure might be causing the price to test the support level, and if this level holds, it could stabilize or rebound.suggest some intriguing trends. Notably, there has been a rise in Open Interest over the past 24 hours. The total was now almost $306 million, according to

 

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