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Toncoin Price Prediction: Is TON on the Path to a 30% Rise This Quarter?

Toncoin
Toncoin

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Toncoin (TON) has been on a bullish streak since early August, with the price action recording higher highs and higher lows. Intermediate profit-taking instances were presented but not enough to hold TON down, and now the token is testing new range highs. TON abbreviates for Telegram Open Network, with its current hype traced back to the recent announcement.

Toncoin Surges On Telegram Announcement

The optimism in the TON market relates to the project’s relationship with Telegram. Recently, Telegram endorsed Toncoin, announcing a new self-custody wallet christened TON Space. The announcement happened during the Token 2049 conference that happened in Singapore last week.

Telegram executive Pavel Durov announced that TON is its chosen blockchain network, enabling its Web3 infrastructure expansion mission on the platform. Durov echoed the announcement on his official Telegram account, saying:

Starting this November, TON Wallet will be included in the settings and attachment menus for all our users outside the U.S. and some other countries.

Toncoin features among the daily gainers today, with community members showing much optimism.

The optimism is best indicated on Santiment, a behavior analytics platform for crypto, sourcing on-chain, social, and development information.

Toncoin active addresses
Toncoin Santiment

Based on the chart above, Toncoin active addresses have steadily risen since July, recording a 341% rise to the current 53 addresses. Similarly, network growth and daily active addresses have steadily increased. This points to strong and growing bullish momentum among TON holders.

Toncoin Price Forecast With 30% Rise In Mind

Toncoin price maintains its bullish trajectory, standing 112% higher than its July lows of $1.17. It enjoys robust support downward, offered by the 50-, 200-, and 100-day Exponential Moving Averages (EMA) at $1.72, $1.71, and $1.65 levels, respectively.

The upward trajectory of these moving averages points to growing momentum, which is corroborated by the up-moving Relative Strength Index (RSI). The Awesome Oscillator (AO) also records green histogram bars, solidifying the presence of bulls in the market.

A sustained accumulation by bulls could send Toncoin price above the immediate barricade at $2.56. TON could shatter the $3.00 psychological target in a highly bullish case before completing a 30% climb to the forecasted $3.15 level. This level was last tested on April 29, 2022.

Toncoin price
TradingView: TON/USDT 1-day chart

It is impossible to ignore the position of the RSI at 78, staggered and indicating an overbought asset. Akin to what happened on August 31 when the RSI showed similar signs, the Toncoin price could correct south. This could see TON likely collecting the liquidity below the $2.07 level before a possible pull north. In the dire case, the downtrend could continue below the $1.76 support, confirming a prolonged downtrend below the EMAs.

While we monitor TON, consider BTCBSC, a new low market-cap crypto recording massive success despite being in the presale. Owing to its many achievements in its early stages, experts are already very optimistic, predicting 10X growth potential.

Promising Alternative To TON

Bitcoin BSC, with the native token BTCBSC, is a new project in the crypto market, making history every day with one of the most successful presales ever. The project has only been running for two weeks but has already raised more than $3 million in presale sales. The BTCBSC token is auctioning for $0.99, the same price Bitcoin (BTC) retailed for in 2011, giving you a chance to relive history.

Besides embarking on the journey of nostalgia, you can also enjoy the same block rewards that Bitcoin offers at 0.25. This is an opportunity for passive income through Bitcoin BSC project’s staking product. The project’s staking function meets BTCBSC token holders at the point where Bitcoin’s legacy and the Binance Smart Chain intersect. It presents a sustainable staking mechanism customized to deliver enduring dedication and community involvement.

Based on the latest update on the website, over 1.5 million BTCBSC tokens have already been staked with an Annual Percentage Yield (APY) of 174%.

You can also earn passive income through the project’s referral program, where you invite your friends and earn 5% of each purchase they make through your exclusive link. All you need to do to get this link is link your wallet.

Bitcoin BSC aims to bridge the gap that will level the crypto playing field, offering an opportunity to buy BTCBSC in the presale while at the same time offering a sort of mining process in the form of staking. You can buy BTCBSC using the card option via Wert, Tether (USDT), Binance Coin (BNB), or Ethereum (ETH), even as the Bitcoin BSC community continues to grow.

Visit Bitcoin on Binance Smart Chain here

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