NAIROBI (CoinChapter.com)— Toncoin (TON), Sui (SUI), and Polkadot (DOT) are at crucial price levels as traders gauge their next moves. TON shows early recovery after its recent dip, SUI sees a breakout above $5, and DOT must hold $8.60 to sustain its uptrend.
Toncoin (TON) Eyes $7.55 Target Amid Growing Market Optimism
Toncoin (TON) is showing early signs of recovery after its Dec. 10 drop to $5.5, now trading around $6.41. Derivatives data reflects growing interest, with trading volume surging 64.87% to $250.84 million and open interest rising 2.55% to $215.13 million.
Toncoin Derivatives Volume Soars 64.87% to $250M. Source: Coinglass
CryptoQuant analyst Darkfost highlighted a shift in TON’s 90-day percent return, now at 9%. While modest compared to the explosive 200% gains seen during its previous rally, this marks a potential turning point for Toncoin.
Historically, positive 90-day returns have preceded strong upward trends, signaling renewed investor confidence.
Toncoin Jumps 160% in 90-Day Rally. Source: Darkfost
Darkfost emphasized the importance of patience, noting that while this uptick improves sentiment, it is too early to predict a repeat of past rallies. Similarly, The Moon Show on X suggested a bullish breakout could be underway.
A symmetrical triangle pattern on the 1-hour chart signals a potential move to $7.55 if TON breaks to the upside.
Despite this positive momentum, TON remains 24.2% below its all-time high of $8.25 recorded in June. Daily trading volume declined sharply from $1 billion on Dec. 10 to $402.8 million. The asset’s market cap slipped from $17 billion earlier this month to $15.9 billion at press time.
Toncoin Eyes $7 After Holding $6 Support. Source: TradingView
Technically, TON is holding above its key moving averages, with the 50-day EMA at $5.99 and the 100-day EMA at $5.83. The Relative Strength Index (RSI) sits at 57.99, indicating neutral conditions with room for further upside.
SUI Bulls Eye $5 Breakout as Trading Volume Surges
Sui (SUI) is holding strong near $4.78, just short of its all-time high of $4.92. With traders closely eyeing the $5 psychological barrier, bullish momentum continues to build.
SUI Climbs Higher Within Strong Uptrend Channel. Source: TradingView
The Relative Strength Index (RSI) stands at 67.79, showing strong momentum but nearing overbought territory.
While this signals caution, it also indicates buyers remain in control. SUI’s consistent higher lows suggest bullish dominance, with support holding firm at $4.30 in case of any short-term pullbacks.
The Accumulation/Distribution (A/D) line steadily rises, suggesting ongoing demand as investors accumulate SUI.
Derivatives data shows growing excitement. Trading volume jumped 34.93% to $2.42 billion, while open interest rose 2.27% to $835.26 million, signaling rising bets on SUI’s next move.
Key upgrades and ecosystem growth have been critical to SUI’s impressive performance. The integration of USDC and Circle’s Cross-Chain Transfer Protocol (CCTP), along with the launch of the Grayscale Sui Trust in Q3 2024, pushed its circulating market cap to $4.8 billion—up 133.3% in Sept.
Sui Network Sees 111% Surge in Staking Value. Source: Messari
SUI Daily transactions peaked at 7.1 million in Q2 before stabilizing at 3.3 million in Q3, while low transaction fees of $0.0024 keep the network efficient. Sui’s DeFi ecosystem is also booming, with TVL surpassing $1 billion. Leading protocols like Cetus recorded $34.6 million in daily DEX volume, introducing new tools to attract traders.
Polkadot (DOT) Needs to Defend $8.60 to Stay on Track
Polkadot (DOT) has surged 107.5% in the past 30 days, reaching a five-month high of $8.81. However, analysts warn that holding the $8.60 support level is crucial to keep the momentum alive.
Rekt Capital, a well-known market analyst, highlighted that $8.60 has turned into a key support. A successful retest could set DOT on a path toward $12.61, while a failure could see it slide back toward $5.80.
Polkadot Rallies 101% Toward Major Resistance. Source: Rekt Capital on X
Ali Martinez, another crypto market analyst, shares a similar outlook. Martinez forecasted DOT’s climb to $11 following its earlier breakout from $6, aligning with the current bullish setup.
Data from Coincodex highlights a “Fear & Greed Index” of 78, reflecting extreme greed in the market. Polkadot’s liquidity continues to improve, with USDT and USDC adoption on its network reaching $120 million in total valuation.
TON struggles to regain lost ground but holds key technical levels, while SUI eyes a $5 breakout fueled by rising trading activity and network growth. Polkadot remains strong, but holding $8.60 is critical to sustaining its upward momentum.
