Amid the ongoing cryptocurrency pullback triggered by Bitcoin (BTC) price falling below $94,000, the Toncoin (TON) price has re-tested the key support level established around $4.8 over the past eight months. This large-cap Layer 1 altcoin has a fully diluted valuation of approximately $27.6 billion, with a 24-hour average trading volume of about $285 million, forming a potential bullish continuation pattern.
In the weekly time frame, the TON price has formed a symmetrical descending triangle pattern, with the Relative Strength Index (RSI) rebounding continuously from the 50% level. Additionally, the TON price has successfully rebounded from the 50-week Simple Moving Average (SMA), indicating a possible rebound in the short term.
Why betting on Toncoin's recovery in 2025
In recent years, the Toncoin network has developed into a robust web3 ecosystem, supported by Telegram mini-programs. In less than a year since Tether integrated USDT, the stablecoin trading volume on the TON blockchain has exceeded $1 billion. With a dozen DeFi projects, the total locked value (TVL) of TON projects has grown to over $247 million.
According to on-chain data analysis by IntoTheBlock, the Telegram mini-program led by Notcoin (NOT) has boosted the daily active users of TON to over 5 million.
The success of the Toncoin network is largely attributed to Telegram, which achieved annual profitability for the first time in the 2024 fiscal year. According to Telegram's CEO and founder Pavel Durov, the social media platform has over 12 million premium users.
Therefore, Telegram reports that its revenue will exceed $1 billion for the first time in 2024, currently holding over $500 million in cash reserves (excluding crypto assets).
Medium-term goal
Within the daily and weekly time frames, the TON price is preparing for a significant breakout after being trapped in a triangular pattern for the past few months. If the TON price successfully breaks through the diagonal of the macro triangular pattern, a bull market exceeding 10 will be welcomed in 2025.
From a bearish perspective, the price of TON may re-test the support level near $4.44 before rebounding to an all-time high in the first half of 2025.