Toncoin price prediction: Charting TON’s path to a new ATH

Toncoin price prediction looks bullish after retesting the $6.50 support level.
Momentum at risk as Toncoin network activity drops — new addresses fall 16.33%.

As a seasoned crypto investor with over five years of experience under my belt, I’ve seen bull markets come and go, and have learned to read the signs like a seasoned tea leaf reader. After analyzing Toncoin’s recent price action, I’m cautiously optimistic about its future. The retest of the $6.50 support level is usually a sign of a strong foundation, but the drop in network activity has me slightly concerned.

In a remarkable surge last November, the cryptocurrency market saw Toncoin [TON] skyrocket by an astonishing 50%, turning the previous $6.50 resistance level into a robust foundation for growth. The beginning of December also showed promise, with TON gaining 14% in its initial week.

However, a retracement to retest the support level has wiped out those gains.

Over the last week, I’ve noticed that my TON investment has dipped by 1.01%. It’s been trading between $6.59 and $6.82 each day. Am I seeing a sign of bullish recovery ahead, or should I expect more market consolidation in the coming days?

Toncoin price prediction as 2025 approaches

At the moment of reporting, Toncoin was valued at approximately $6.58, marking a 3.54% decrease in its value over the past day. Notably, the important support level is around $6.50. This level holds significance because it was previously a resistance point but has since reversed, potentially serving as a foundation for any potential recovery.

The Alligator indicator signaled a period of stability, as its rapid line was approaching the present price level, suggesting it was hovering close by.

The Stochastic RSI at 59.02 and the 14-day RSI at 59.38 suggest potential for a decrease (downward pressure) and waning bullish power, respectively.

If TON surpasses the $7.2 mark, it could potentially aim for $7.5, which is a significant milestone on its path back to its record high of $8.24.

Instead, if the price drops below $6.50, it might cause a descent towards $6.28, with further support potentially at $5.45. Keeping an eye on these key levels is important as we move closer to 2025.

Network activity will fuel TON’s rebound

The creation of new Telegram Open Network (TON) addresses has decreased by 16.33%, and the number of actively used addresses has dropped by 19.69%. In simpler terms, we’re seeing a decrease in both the number of new TON accounts being created and the number of existing accounts being used.

The decrease in zero-balance addresses, falling 41.90%, highlighted reduced engagement across the blockchain. This activity correlates with recent price consolidation and market sentiment.

As a network analyst, I often observe that active participants within our network appear to align with market price fluctuations, underscoring the relationship between user engagement and broader market dynamics.

The decrease in network usage indicates less engagement, mirroring wider market pullbacks. To stimulate a possible recovery, it’s crucial to prioritize expanding the network again.

To keep moving forward, it’s crucial for TON to see both an uptick in network usage and favorable market trends. Greater participation might ignite a fresh wave of optimism, potentially boosting the overall momentum within the ecosystem.

Slight bearish bias dominates

Toncoin’s sentiment was slightly bearish in the past week. The market appeared cautious, with the difference between bulls and bears hovering near neutral levels. It indicated a consolidating market preparing for its next move.

Read Toncoin’s [TON] Price Prediction 2024–2025

2020 saw a predominantly bullish market, while 2022 exhibited bearish tendencies, indicating that the mood or attitude of investors tends to cycle over time.

The current balance shows that the market may break either way, depending on broader momentum.

2024-12-10 09:11

Toncoin price prediction as 2025 approaches

Network activity will fuel TON’s rebound

Slight bearish bias dominates

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