Toncoin (CRYPTO:TON) is currently experiencing a phase of consolidation, trading within the narrow range of $4.80 to $5.44.

This period of sideways movement poses a pivotal moment for Toncoin, as it could either trigger a significant rally or a corrective pullback in the near future.

Despite the optimistic outlook stemming from the altcoin trading above $5.00, driven by the potential profitability of nearly $11 million worth of TON, caution is warranted.

The presence of a considerable number of short-term holders, representing 37% of the circulating supply, introduces a level of volatility that could impact Toncoin's price trajectory.

As Toncoin stands at a crossroads, investors are advised to closely monitor the price action around the key levels of $4.80 and $5.44 to gauge the potential direction of its next move.