• Toncoin (TON) is trading at $2.49, indicating a 4.3% price increase in 24 hours.
• Technical analysis indicates that TON will break its current price and climb above $10.
• Price predictions for 2023 and 2025 are $3.56 and $7.74 respectively.
What is Toncoin (TON)?
Toncoin (TON) is a decentralized layer-1 blockchain created to support the development of projects and applications around the world. It seeks to provide users with an efficient, safe, and secure platform for transactions, storage, and data management while also offering low transaction costs when compared to other digital assets such as Bitcoin or Ethereum.
At press time, TON has a 14-day price gain of 9.2% and a 30-day price rally of 8.8%, while most coins‘ prices are down. With a 6.8% 7-day gain, TON is outperforming the global crypto market, which has increased by 1.4%. On the daily chart, its price has remained above its 50-day and 200-day Simple Moving Average (SMA) since the golden cross formation – indicating a bullish sentiment for further short & long term increase in price levels. The Relative Strength Index (RSI) is at 57.53 indicating neutrality reflected in the sideways movement of the indicator; whereas Moving Average Convergence/Divergence (MACD) is below its signal line & moving downwards – suggesting bearish sentiment in the near future.. The support levels are $2.19, $2.25, & $2.36; whereas resistance levels are identified at $2.53 ,$2 .59 & $ 2 .70 .
Price Prediction for 2023
TON has performed well in 2023 reflecting general crypto market recovery; however it has struggled to surpass the resistance level at $3 so far – which might be tested soon with current rally expected in near future weeks & months ahead . If successful , it can reach up to predicted value of $3 .56 with low being recorded at 3 .07
Price Prediction for 2025
By 2025 , Toncoin will have gained more exposure & adoption leading to double value from its 2023 estimated worth ; trading around 7 .74 USD with low being recorded as 6 .12 USD
In conclusion , Toncoin seems like an attractive asset due to its performance over last few months & technical indicators suggest further growth potential in coming years reaching up to values of 3 .56 USD by end of 2023 & 7 .74 USD by end of 2025 provided it successfully breaks through current resistance levels