The Open Network (TON) Token currently stands as one of the most popular layer one cryptocurrencies. Since the beginning of the year, its price has surpassed that of bitcoin by +118%.
Analyzing price fluctuations across various trading sessions allows us to discern which investor groups are bullish on TON and which lean more bearish. This insight can guide expectations regarding price movements.
The chart I've assembled illustrates the relative price performance during each trading session (these times are referenced from GMT timezone)
š£ European trading spans from 8 to 15 hours.
š American trading ranges from 14 to 23 hours.
š¢ Asian trading occurs between 0 and 8 hours.
While many days register minimal movement, the data highlights American investors as the most bullish on TON. Numerous orange lines indicate significant percentage changes during the US session, with the token experiencing the highest average percentage increase during this period. Conversely, European traders appear the most bearish, as evidenced by multiple purple lines denoting negative price changes during their session. Asia shows a more moderate stance, with trading hours commencing later, reflected in the data. Asian session traders seem to align with past price performance, spanning both positive and negative trends.
For active short-term trading, I recommend seeking long positions during US sessions. Conversely, for shorting, entering during the EU session is preferable.
Written by maartunn
