Toncoin price prediction: Amid Post-Launch Momentum, Can TON Aim For $3, While A Not-Yet-Revealed Presale Coin Entices Early Birds?

ByLockridge Okoth

Updated: 13 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Toncoin (TON) price is trading with a bearish bias as the market continues slowly falling. It follows on the heels of Bitcoin (BTC) and Ethereum (ETH).

GM!

The market continues to fall slowly:

🔴 Bitcoin costs $26,806;

🔴 Ethereum dropped to $1,540,

🔴 Toncoin lost the most — now it costs $1,9325.

Red is the hit of the season. pic.twitter.com/L0XlyJ87YZ

— itez (@itezofficial) October 13, 2023

However, the token continues to trend amid post-launch momentum with a 24-hour trading volume increase of around 60%, CoinMarketCap data shows.

Toncoin CoinMarketCap — Source: CoinMarketCap

Meanwhile, the TON community continues enjoying a new ecosystem development. Based on a recent announcement, South Korean exchange Coinone has lined up among the platforms listing TON. As of October 12, the token went live on the exchange against the Korean Won (TON/KRW).

Coinone, Toncoin'i (TON) listeliyor!

Coinone, Toncoin'i (TON) listeleyen ilk Güney Kore borsası olacak ve 12 Ekim 2023'ten itibaren TON/KRW (Kore Wonu) işlem çiftini kullanıma sunacaktır.#TON #TON_Blockchain #BuildOnTON #defi #web3 #crypto pic.twitter.com/DrYK4d3Gmg

— TON Society Türkiye (@TONTurkey) October 13, 2023

Nevertheless, the Toncoin price remains on an uptrend from a big-picture perspective, confronting a stiff resistance at $2.60. Notably, this is not the first time this supplier congestion level is capping the upside potential for TON. On January 28, the Toncoin price was rejected from the same level.

Toncoin Price With TON Barely Holding Above A Bullish Support Level

After facing rejection from the $2.60 hurdle, Toncoin price is now offering investors a solid swing entry with a 30% upside potential back to the crucial barricade.

Meanwhile, momentum remains bearish, with the Relative Strength Index (RSI) below the 50 level. The Awesome Oscillator (AO) indicator corroborates this outlook, recording red histogram bars while spanning the negative territory.

Increased selling pressure could see the Toncoin price lose the support offered by the 50-day Exponential Moving Average (EMA) at $1.95. A break and close below this level would see TON lose the support offered by the ascending trendline, thereby invalidating the bullish outlook.

An extended fall could see Toncoin price test the 200-day Simple Moving Average (SMA) at $1.77, or worse, extend to the crucial $1.60 support level. In the dire case, TON could move to test the swing low at $1.17. Such a move would constitute a 40% fall below current levels.

Conversely, if sidelined investors looking to capitalize on the potential 30% upswing and use the $1.95 support as an entry point, Toncoin price could pull north, shattering the immediate hurdle at $2.07. In highly bullish cases, the desirable 30% recovery could manifest, sending TON to a valuation of $2.60. Overly ambitious cases could steer the altcoin to the $3.00 psychological level. This would constitute a run of approximately 55% above the current level.

Meanwhile, other investors are considering TGC as a promising alternative, and you should consider it, too. Among its key selling points is the 10X staking rewards.

Toncoin Alternative

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