Toncoin, TON could hit $14.60 in 2024
Toncoin’s price prediction for the most bearish scenario will value TON at $4.68 in 2024.
Toncoin’s previous All Time High was on 11 April 2024 where TON was priced at $7.63.
Toncoin’s price at the same time last week was $5.31. It has moved by 13.02 % in the past week and is currently at $5.85. Infact, in the past 24 hours, TON has dumped by -0.40 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and TON could hit $30.05 in 2025.
The total circulating supply of Toncoin as of writing this article was $3473367333.20 and the marketcap of TON remains at $20,290,358,453
TON price prediction: Key highlights
1. Primary support and resistance levels
The weekly chart's analysis revealed the lowest support level to be $1.1.
Conversely, the highest point of resistance can likely be at $9.
2. Market sentiment
In April 2024, TON has been overvalued in a highly bullish market.
3. Predictive forecasts
Based on our AI/ML predictive models, the average price of TON is projected to be $204 in 2028, with a future increase to more than $1,677 in 2031.
Check out the comprehensive weekly technical analysis of TON, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:
TON technical analysis: Asset continues to gain amid market crash
The Toncoin price prediction for 2024 was underpinned by significant price pumps that have laid the roadmap for new attainable highs. Furthermore, the period under review began with the asset struggling to breach the resistance at $2.3.
Initial rejection precipitated a series of declines. By May, the price fell below the critical $2 mark. The downtrend was halted at the lowest support of $1.1. In August, the onset of a second bullish rally was noted. This culminated in the price retesting $2.3 in mid-September.
Yet another rejection ensued, leading to a brief breach of support at $2 in October. Mid-month, the price resumed its upward trajectory and overcame $2.3 by November. This resistance-turned-support was under constant bearish pressure.
After a month-long battle, the price ultimately failed to hold on to this level. Nonetheless, this time, further declines were halted at $2. This level held its ground till the end of February and proved to be a springboard for future gains.
The forthcoming period proved to be quite optimistic. Capitalizing on numerous developments, TON made new highs. AMBCrypto reported that the commencement of the first full season of The Open League triggered a double-digit rally in TON's price.
Through this initiative, the Ton Foundation plans to distribute 30 million TON to projects and network users. Furthermore, 21 Shares announced the launch of a Toncoin staking exchange-traded product (ETP).
Interestingly, even as the market crashed in April, the asset continued to trend upwards. According to data from CoinMarketCap, it experienced a surge in market capitalization, securing the ninth position and displacing Cardano (ADA) in the process.
Simultaneously, TON attained a new all-time high (ATH) of $7.6. This development marked $7.2 as the highest achievable target on the chart. At the time of writing, TON dipped slightly to exchange hands at $6 while standing afoot on $5.3.
AMBCrypto’s recent analysis indicated that it could flip Dogecoin (DOGE) next. If this bullish rally continues, the asset can soon reclaim its ATH, which puts $9 as the new target. A more optimistic scenario can even see it go as high as $10. Nonetheless, that would necessitate navigating the probable pushback at $9.
Future predictions from our models are even bullish as the models forecast TON to average at $204 within the next four years. By 2031, the asset is anticipated to move across the $1000 mark, trading at an average price of $1,677.
However, given the market’s overvaluation of TON, the possibility of a price correction cannot be overlooked. As the market adjusts, the current support might be at risk of faltering. $3.8 can likely be the next stop for bulls to avoid a downtrend.
TON's 2024 roadmap: Key indicators to watch and trade
Until mid-February, the On-Balance Volume (OBV) remained relatively flat with negative values. This indicated that sellers were more aggressive than buyers, putting downward pressure on prices.
As the asset's price began to increase towards the end of February, the OBV experienced a sharp rise, moving into high positive territory and reaching 448.95 million. It implied that a large amount of the asset was being accumulated, and this demand could drive the price higher.
Throughout most of the analysis period, trading volume was low. However, a significant increase in volume was observed as the price started to rise towards the end of February. This reinforced the strength of the price movement.
The Relative Strength Index (RSI) dropped below 50 towards the end of April and moved past it again in August. For the most part, it maintained its dominance. After a brief dip towards the end of January, the RSI sharply increased, entering the overbought region by mid-March.
The indicator stood at 77.37 at the time of writing. This was a slight downtick from previous high values yet indicated overextension. Consequently, it could trigger further pullback.
Toncoin Price Prediction
Toncoin has had an eventful 2023. To simplify the latest TON price prediction, we have divided up the prediction by short term Toncoin price prediction and long term Toncoin price prediction. As of writing this article, TON had a trading volume of 192,325,271. Toncoin has gone up by 9.53% in the past 30 days.
According to our analysis in the short term, Toncoin price prediction for July 2024 shows the average price of TON at 9.04 and the highest possible price for July 2024 would be $9.67.
Further, according to our analysis in the long term, Toncoin price prediction for November 2024 shows the average price of TON at 11.12 and the highest possible price for November 2024 would be $11.90.
Toncoin price prediction 10 May 2024: Toncoin's price for 10 May 2024 according to our analysis should range between $5.66 to $6.51 and the average price of TON should be around $6.09.
Toncoin price prediction 11 May 2024: Toncoin's price for 11 May 2024 according to our analysis should range between $5.67 to $6.52 and the average price of TON should be around $6.09.
Toncoin price prediction 16 May 2024: Toncoin's price for 16 May 2024 according to our analysis should range between $5.56 to $6.39 and the average price of TON should be around $5.97.
Toncoin price prediction 21 May 2024: Toncoin's price for 21 May 2024 according to our analysis should range between $5.43 to $6.24 and the average price of TON should be around $5.83.
Toncoin price prediction 31 May 2024: Toncoin's price for 31 May 2024 according to our analysis should range between $5.08 to $5.84 and the average price of TON should be around $5.46.
Toncoin price prediction June 2024: Toncoin's price for June 2024 according to our analysis should range between $7.92 to $9.11 and the average price of TON should be around $8.52.
Toncoin price prediction July 2024: Toncoin's price for July 2024 according to our analysis should range between $8.41 to $9.67 and the average price of TON should be around $9.04.
Toncoin price prediction August 2024: Toncoin's price for August 2024 according to our analysis should range between $8.89 to $10.23 and the average price of TON should be around $9.56.
Toncoin price prediction September 2024: Toncoin's price for September 2024 according to our analysis should range between $9.37 to $10.79 and the average price of TON should be around $10.08.
Toncoin price prediction October 2024: Toncoin's price for October 2024 according to our analysis should range between $9.86 to $11.34 and the average price of TON should be around $10.60.
Toncoin price prediction November 2024: Toncoin's price for November 2024 according to our analysis should range between $10.34 to $11.90 and the average price of TON should be around $11.12.
Toncoin price prediction December 2024: Toncoin's price for December 2024 according to our analysis should range between $10.83 to $12.46 and the average price of TON should be around $11.64.
Toncoin's Long Term Price Prediction
Toncoin’s long term Price Prediction below is a look at TON’s future prospect with regards to price. Toncoin was last seen at $5.85, with a market cap of $20,290,358,453 and trading volumes of $192,325,271. TON’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
Toncoin price prediction 2024: Toncoin's price for 2024 according to our analysis should range between $9.73 to $14.60 and the average price of TON should be around $12.17.
Toncoin price prediction 2025: Toncoin's price for 2025 according to our analysis should range between $20.03 to $30.05 and the average price of TON should be around $25.04.
Toncoin price prediction 2026: Toncoin's price for 2026 according to our analysis should range between $41.24 to $61.86 and the average price of TON should be around $51.55.
Toncoin price prediction 2027: Toncoin's price for 2027 according to our analysis should range between $84.89 to $127.34 and the average price of TON should be around $106.11.
Toncoin price prediction 2028: Toncoin's price for 2028 according to our analysis should range between $174.75 to $262.12 and the average price of TON should be around $218.43.
Toncoin price prediction 2029: Toncoin's price for 2029 according to our analysis should range between $359.71 to $539.56 and the average price of TON should be around $449.64.
Toncoin price prediction 2030: Toncoin's price for 2030 according to our analysis should range between $740.45 to $1110.68 and the average price of TON should be around $925.56.
Toncoin price prediction 2031: Toncoin's price for 2031 according to our analysis should range between $1524.20 to $2286.30 and the average price of TON should be around $1905.25.
Toncoin price prediction 2032: Toncoin's price for 2032 according to our analysis should range between $3137.53 to $4706.30 and the average price of TON should be around $3921.91.
Toncoin price prediction 2033: Toncoin's price for 2033 according to our analysis should range between $6458.53 to $9687.80 and the average price of TON should be around $8073.16.
Toncoin price prediction 2035: Toncoin's price for 2035 according to our analysis should range between $27366.86 to $41050.30 and the average price of TON should be around $34208.58.
