In the ever-changing landscape of cryptocurrency, Toncoin (TON) has been navigating the turbulent waters, especially in light of the recent crypto correction led by Bitcoin’s (BTC) price dip below $94k. Amidst this volatility, Toncoin has revisited a pivotal support level around $4.8, a threshold it has maintained for the past eight months. As a prominent layer-one altcoin, Toncoin boasts a fully diluted valuation nearing $27.6 billion, along with an average daily trading volume of approximately $285 million. These metrics highlight its potential for a bullish continuation pattern, capturing the attention of investors.
Technical Analysis of Toncoin
On the weekly charts, Toncoin’s price action has been shaping a symmetrical descending triangle pattern. The Relative Strength Index (RSI) has shown resilience, rebounding consistently from the 50 percent mark, indicating a potential uplift. Moreover, the TON price has successfully bounced back from the 50-week Simple Moving Average (SMA), further suggesting a possible recovery in the near term.
Why Bet on Toncoin Recovery in 2025
The Toncoin network has evolved into a formidable web3 ecosystem, significantly supported by Telegram’s innovative mini apps. In less than a year since its integration with Tether’s USDT, the TON blockchain has already surpassed $1 billion in stablecoins. The blockchain’s ecosystem boasts over a dozen DeFi projects, amassing more than $247 million in total value locked (TVL). According to on-chain analysis by IntoTheBlock, Telegram’s mini apps, spearheaded by Notcoin (NOT), have driven TON’s daily active users to exceed 5 million, underscoring its widespread adoption.
The @ton_blockchain has emerged as a resounding success story in 2024, largely due to the mainstream acceptance of its Telegram mini-apps. These applications have garnered significant attention, pushing the daily active user count beyond 5 million by mid-year.
Toncoin’s growth is substantially reinforced by Telegram’s achievements, which reported its first annual profitability in 2024’s fiscal quarter. According to Pavel Durov, Telegram’s CEO and founder, the platform boasts over 12 million premium subscribers. Consequently, Telegram announced surpassing $1 billion in revenue in 2024 for the first time, currently holding over $500 million in cash reserves, excluding its crypto assets.
Midterm Targets
In the short to midterm, Toncoin’s price is gearing up for a significant breakout after being constrained within a triangular formation for several months. Should the TON price successfully breach the hypotenuse of this macro triangular pattern, a bullish surge beyond $10 is anticipated in 2025. Conversely, from a bearish perspective, the TON price might revisit the support level around $4.44 before staging a rebound towards a new all-time high in the first half of 2025.
As the Toncoin market continues to evolve, investors and enthusiasts are closely monitoring these developments, eager to understand the potential impacts on the broader crypto landscape.
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