Toncoin is currently consolidating around $5.2, with a recent spike to $5.40, but lacks strong directional movement.

At present, Toncoin's price stands at $5.18, with the Chaikin Money Flow (CMF) indicator remaining in negative territory since late September, indicating heightened selling pressure.

A significant increase in the number of wallets holding losses—up 29% to 63%—could lead to further selling pressure as traders look to cut their losses.

Additionally, a decline in large holder netflow suggests that whales are offloading their holdings, which could contribute to a price drop.

If demand remains low, Toncoin is at risk of a double-digit price decline.

Despite a surge in usage in late September due to major events, the TON blockchain has since experienced a significant decline in daily active users and transactions.

Daily active addresses have plummeted from over 2.58 million to under 650,000, indicating a stark reduction in user engagement.

The Relative Strength Index (RSI) is currently at 47, suggesting more sellers than buyers, despite high retail interest in the broader crypto market.

Moreover, the Network Value to Transaction (NVT) Ratio has risen since September, indicating that Toncoin may be overvalued relative to its transaction volume.

While current metrics suggest a cooling phase, historical patterns show that Toncoin's user base can rapidly expand during renewed market interest.

Recent data suggests that Toncoin may experience a temporary decline before potentially rising beyond current levels.

Investors are advised to conduct their own research before making financial decisions, as market conditions remain fluid.