The Open Network (TON) has hit a significant milestone with USDT issued on TON surpassing $1 billion. This liquidity surge could be a catalyst for TON's price growth.
Technical Analysis
Strong support at $5.20
Price above 20-day EMA, signaling bullish trend
Resistance at $6 (key supply zone)
Price Prediction
If demand continues to grow, TON could break the $6 resistance, potentially rallying to $8.32 by Q4 2023. This setup mirrors the conditions that led to TON's run above $8 in June.
Increased stablecoin volume suggests higher user engagement, which could drive up demand for TON. This influx of capital might push TON towards its all-time high of $8.24.
Traders should watch for a break above the $6 resistance as a potential signal for the next leg up.