Amid the ongoing crypto correction driven by Bitcoin (BTC) price falling below $94,000, Toncoin (TON) price has retested a crucial support level around $4.8, which was established over the past eight months. The large-cap altcoin, with a fully diluted value of around $27.6 billion and an average 24-hour trading volume of around $285 million, is forming a potential bullish continuation pattern.
On the weekly time frame, TON price is forming a symmetrical descending triangle pattern, with the Relative Strength Index (RSI) consecutively bouncing off the 50 percent level. Moreover, TON price has successfully rebounded from the weekly 50-period simple moving average (SMA), indicating a possible recovery in the near term.
Toncoin Recovery in 2025
The Toncoin network has grown into a robust web3 ecosystem powered by Telegram mini apps in the recent past. Already, the TON blockchain has raised over $1 billion in stablecoins, less than a year since the integration of USDT with Tether. Through dozens of DeFi projects, the TON project has grown to over $247 million in total value locked.
#BinanceAlphaAlert (TVL).
According to on-chain data analysis by IntoTheBlock, Telegram mini apps led by Notcoin (NOT) have pushed the number of daily active TON users to over 5 million.
On the daily and weekly timeframe, TON price is preparing for a major breakout after being trapped in a triangular pattern for the past few months. If TON price succeeds in breaking the hypotenuse of the overall triangular pattern, an uptrend after 10 will be imminent in 2025.
From a bearish perspective, TON price could retest the support level near $4.44 before bouncing towards a new all-time high in the first half of 2025.