TON Price Forecast: Ton coin Might Dip to $7.2 Before Rising to New Highs

Key Takeaways

1. Recent Growth: Ton coin’s price has increased significantly, trading at $7.79 with a market cap over $18.9 billion.
2. Bullish Sentiment: TON’s weighted sentiment and social volume have risen, indicating strong market confidence.
3. Short-term Dip: TON might drop to $7.2 before a significant rally, due to high whale selling pressure and technical indicators.
4. Technical Indicators: The token’s RSI is nearing the overbought zone, and its price touched the upper limit of the Bollinger Bands, suggesting a potential correction.
5. Long-term Potential: Despite the expected dip, TON is preparing for a bullish breakout, with predictions of reaching $11 soon.

Toncoin (TON) has been one of the standout performers in the cryptocurrency market, displaying resilience and even recording gains while many other cryptocurrencies have struggled. Despite this positive momentum, market indicators suggest that TON might experience a short-term dip before embarking on a significant rally.

Recent Performance and Market Position

Toncoin has shown impressive growth over the past week. According to CoinMarketCap, TON’s price increased by more than 1.7% in the last seven days, and its value surged by nearly $2 in the past 24 hours alone. At the time of writing, TON is trading at $7.79 with a market capitalization exceeding $18.9 billion, securing its position as the ninth largest cryptocurrency.

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This price uptick has not gone unnoticed, with TON’s weighted sentiment graph rising, indicating a dominant bullish sentiment in the market. Additionally, TON’s social volume has spiked, reflecting its growing popularity. Interestingly, Toncoin has also surpassed Ethereum (ETH) in the number of unique addresses completing transactions on its network for ten out of the last twelve days, showcasing its increasing adoption.

Potential Bullish Breakout

Crypto analyst Ali recently highlighted a promising development for Toncoin. According to Ali, TON is preparing for a bullish breakout, potentially reaching $11 in the near future. However, this bullish movement might be preceded by a brief consolidation phase.

Expected Short-term Dip to $7.2

Before embarking on its anticipated rally, TON might need to undergo a slight correction. AMBCrypto’s analysis suggests that TON could drop to $7.2 to gather sufficient liquidity for its upcoming bull run. Several factors support this potential dip:

1. Buying Pressure and Exchange Outflows: Despite high buying pressure indicated by a rise in exchange outflows and a decrease in supply on exchanges, there has been a notable selling pressure from whales. The supply held by top addresses has dropped sharply, suggesting that large holders are offloading their TON holdings, which could drive the price down temporarily.
2. Technical Indicators: On the daily chart, TON’s price recently touched the upper limit of the Bollinger Bands, a technical indicator often associated with upcoming price corrections. Additionally, TON’s Relative Strength Index (RSI) is nearing the overbought zone. If the RSI enters this territory, it might trigger increased selling pressure, pushing the token’s price down to around $7.2.

Conclusion

While Toncoin’s long-term outlook remains bullish, investors should brace for a potential short-term correction. The anticipated dip to $7.2 could serve as a healthy consolidation phase, allowing TON to gather the necessary momentum for a robust rally towards new highs. As always, investors should exercise caution and closely monitor market indicators to make informed decisions.

🚀 #Toncoin might dip to $7.2 before skyrocketing! Despite recent gains, market signals suggest a short-term correction is coming. Stay patient, $TON holders – a major rally could be on the horizon! 📈💪 #Crypto #TON #MarketUpdate #BullishMomentumhttps://t.co/wqZRAyoKLF pic.twitter.com/Tumv2zjvvL

— City Telegraph (@0xCitytelegraph) June 14, 2024

Long-term Toncoin price prediction for 2025, 2026, 2027, 2028, 2029 and 2030

Based on the historical price movements of Toncoin and the BTC halving cycles, the yearly low Toncoin price prediction for 2025 is estimated at $ 7.94. Meanwhile, the price of Toncoin is predicted to reach as high as $ 37.93 next year. Using the same basis, here is the Toncoin price prediction for each year up until 2030.

Toncoin price prediction 2025

The Toncoin price prediction for 2025 is currently between $ 7.94 on the lower end and $ 37.93 on the high end. Compared to today’s price, Toncoin could gain 380.91% by 2025 if TON reaches the upper price target.

Toncoin price prediction 2030

The Toncoin price prediction for 2030 is currently between $ 20.48 on the lower end and $ 33.20 on the high end. Compared to today’s price, Toncoin could gain 320.98% by 2030 if it reaches the upper price target.