The cryptocurrency market is currently witnessing a correction, triggered by Bitcoin (BTC) prices dipping below $94,000. Within this context, Toncoin (TON) has revisited a vital support level around $4.8, a threshold that has held firm over the past eight months. As a prominent layer-one altcoin with a fully diluted valuation nearing $27.6 billion and a 24-hour average trading volume of approximately $285 million, Toncoin is potentially on the cusp of a bullish continuation pattern.
Technical Analysis of Toncoin
On the weekly chart, Toncoin’s price is crafting a symmetrical descending triangular pattern. This formation is accompanied by the Relative Strength Index (RSI) rebounding consistently from the 50 percent benchmark. Additionally, the price has made a successful recovery from the 50-week Simple Moving Average (SMA), indicating a likely rebound in the short term.
Why Bet on Toncoin Recovery in 2025
The Toncoin ecosystem has blossomed into a resilient Web3 infrastructure, significantly supported by Telegram’s suite of mini apps. Within a short span, the TON blockchain has amassed over $1 billion in stablecoins, following the integration of Tether’s USDT. With numerous DeFi projects, the TON platform’s total value locked (TVL) has surged past $247 million. Analyzing on-chain data from IntoTheBlock, Telegram’s mini apps, spearheaded by Notcoin (NOT), have elevated TON’s daily active user base to over 5 million.
The @ton_blockchain narrative unfolded as a success story in 2024, largely attributed to the extensive adoption of Telegram’s mini-apps. These applications garnered mainstream interest, pushing TON’s daily active users beyond 5 million by mid-year. The critical role of Telegram in Toncoin’s ascension cannot be overstated, as the social media giant achieved financial profitability in the fiscal first quarter of 2024. According to Pavel Durov, CEO and founder of Telegram, the platform boasts over 12 million premium subscribers. Consequently, Telegram reported surpassing $1 billion in revenue for the first time in 2024 and maintains more than $500 million in cash reserves, exclusive of crypto holdings.
Midterm Targets
In both daily and weekly timeframes, the TON price is on the verge of a significant breakout after lingering in a triangular pattern for several months. Should the TON price successfully breach the hypotenuse of the macro triangular formation, a bullish rally surpassing $10 could unfold in 2025.
From a bearish perspective, Toncoin’s price might revisit the support level around $4.44 before rebounding to reach new all-time highs in the initial half of 2025.
Conclusion
The ongoing developments within the Toncoin ecosystem, alongside its technical patterns, suggest a promising trajectory for a potential rebound. As the crypto market continues to evolve, Toncoin stands out with its robust network and strategic partnerships, making it a contender for long-term growth. Investors and enthusiasts should keep a close eye on market signals and upcoming announcements to make informed decisions.
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