The cryptocurrency market is abuzz amid the ongoing correction, triggered by Bitcoin’s (BTC) price dip below $94k. Amidst this, Toncoin (TON) has come under the spotlight as it revisits a crucial support level around $4.8, a figure that has held firm over the past eight months. As a significant player in the layer-one altcoin arena, Toncoin boasts a fully diluted valuation of approximately $27.6 billion with a daily trading volume averaging around $285 million. This scenario sets the stage for what could be a promising bullish continuation pattern.
Technical Analysis: Unveiling Toncoin’s Potential
Delving into the weekly time frame, Toncoin has been crafting a symmetrical descending triangular pattern. This technical formation is underscored by the Relative Strength Index (RSI) consistently rebounding from the 50 percent threshold. Additionally, the Toncoin price has demonstrated resilience by bouncing back from the 50-weekly Simple Moving Average (SMA). These indicators collectively suggest the possibility of a near-term rebound, injecting a dose of optimism into the market sentiment surrounding Toncoin.
Why Bet on Toncoin Recovery in 2025
The growth trajectory of the Toncoin network has been nothing short of impressive, thanks to its integration with Telegram’s mini-app ecosystem. In less than a year since Tether’s USDT integration, the TON blockchain has amassed a staggering $1 billion in stablecoins. This rapid growth is further underscored by a dozen DeFi projects contributing to over $247 million in total value locked (TVL). On-chain data from IntoTheBlock reveals that Telegram’s mini apps, spearheaded by Notcoin (NOT), have catapulted TON’s daily active users to over 5 million.
The year 2024 marked a significant turning point for the Toncoin network, propelled by the widespread adoption of its Telegram mini-apps. This surge in popularity translated to a substantial increase in daily active users, surpassing the 5 million mark by mid-year. Telegram’s influence has been pivotal, with the social media giant achieving annual profitability in the fiscal first quarter of 2024. Under the leadership of CEO Pavel Durov, Telegram has garnered over 12 million premium subscribers, contributing to its financial success. The platform’s revenue exceeded $1 billion in 2024, bolstered by cash reserves exceeding $500 million, excluding crypto assets.
Midterm Targets
As we shift focus to the midterm outlook, Toncoin’s price is poised for a significant breakout, having been confined within a triangular pattern for several months. Should the price successfully breach the hypotenuse of this macro triangular formation, a bullish surge beyond $10 becomes a tangible prospect in 2025. However, from a bearish perspective, there remains the possibility of Toncoin retesting the support level around $4.44 before embarking on a journey toward a new all-time high in the first half of 2025.
In conclusion, Toncoin’s trajectory in the crypto market is closely watched by investors and analysts alike. The interplay of technical indicators, coupled with its robust network growth, positions Toncoin as a formidable contender in the evolving landscape of digital assets. As we navigate the market dynamics, the potential for a Toncoin resurgence in 2025 appears increasingly plausible, driven by its strategic partnerships and innovative ecosystem.
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