The price of TORN is about $55.46 at the TORN of writing, up 55.04 percent in a single day and the rest of the market is also in green. It is currently one of the top gainers. Today, the volume has climbed by over 1053 percent. The overall new volume is estimated to be roughly $157 million.
During this TORN, the low point was around $37.22 and the high point was around $57.53. According to the most recent data released by the coin market cap, the currency has risen to the number 487th, indicating that it is on many traders’ watchlists.
TORN reached a near-all-time high in September, hovering around $98. The TORN coin has a very small supply of roughly 1.099M coins in circulation. Around all percent have been distributed in the market, according to coinmarketcap. As a result of this small supply, TORN has become gained a huge price with just a small market cap as compared to other coins.
Technical Analysis – Tornado Cash (TORN)
Checking out the technical of TORN, and doing it from the Weekly Time Frame. It can be observed that the price was pushing down creating a bearish wave, and now to balance that out and obey the rules of the wave, the price has pushed up and mitigated almost 61% of the last bearish wave. The price is within the Golden ratio of Fibonacci, which itself is in confluence with the fair value gap. This shows a possibility that price can react to that.
Moving down to the Daily Time Frame, the price has bounced aggressively and a possible correction of this can be expected which then would form the next Higher Low on the Daily as structure-wise the price is bullish on Daily and Bearish on Weekly.
Moving down to the 4 Hour Time Frame, it can be seen that price has taken several Liquidities. Now jumping straight won’t be favorable at all. So being conservative, a Wyckoff Distribution Schematic shall be observed having the level of $48.42 as a target in mind
Price Prediction – Tornado Cash
TORN has been one of the market’s most optimistic coins. Despite the fact that the price of TORN has risen dramatically in just a few days, it is not considered a good investment. TORN is expected to reach a value of $6.049 in a year, according to wallet investor. When compared to the current price of the coin, this is a decrease. However, traders are enthusiastic about the price movement and believe it will be worth much more in the future.
