Toncoin (TON) Price Prediction: When Will it Reach $3?

Join Our Telegram channel to stay up to date on breaking news coverage

Today, Toncoin (TON) trades at $2.49, indicating a 4.3% price increase in 24 hours. 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%. Will Toncoin (TON) break its current price and climb above $10? The following price trend and technical analysis would predict possible Toncoin price actions to expect in the coming weeks.

Toncoin (TON) Technical Analysis

TON has remained in the $2 price level since December 2022, with slight fluctuations within the price range. However, it is gaining in the market today with a 24-hour high of $2.56 and a low of $2.40. Here is how it looks on the price charts.

Toncoin (TON) Price Prediction: When Will it Reach $3? — Source: Tradingview.com

TON is trading in the green today. Its price has remained above its 50-day and 200-day Simple Moving Average (SMA) on the daily chart since the golden cross formation. This is a bullish sentiment and indicates a further short and long-term increase.

The Relative Strength Index (RSI) is at 57.53, indicating price neutrality reflected in the sideways movement of the indicator. Also, Toncoin’s Moving Average Convergence/Divergence (MACD) is below its signal line and moving downwards, which is a bearish sentiment.

The support levels are $2.19, $2.25, and $2.36; the resistance levels are $2.53, $2.59, and $2.70. The $2.70 resistance has proved formidable for the asset to break past and will test its ability to rise to $3. With the current rally, expect the token to rise to $3 in the coming weeks.

Toncoin Price Prediction

TON Price prediction 2023

TON has performed well in 2023, reflecting the general crypto market recovery. However, it has struggled to surpass the $3 resistance for weeks. Expect Toncoin to increase to $3.56 in 2023 with a low of $3.07

TON Price Prediction 2025

Toncoin will likely gain more exposure and adoption by the year 2025. It will only double its 2023 value and trade around $7.74 with a low of $6.12

What Is Toncoin (TON)?

TON is a decentralized layer-1 blockchain created by Telegram’s development team. The project was discarded and then revived by the TON network, renamed from the “Telegram Open Network” to “The Open Network”.

TON is built on the principle of sharding, which is creating a blockchain within another blockchain. Each shard on the blockchain serves a specific purpose. The focus is on scalability, mass adoption, and efficiency

Toncoin Ecosystem Trends and Previous Price Actions

At press time, Toncoin (TON) price is 382.49% higher than its all-time high and 52.64% lower than its September 21, 2021-all-time low of $0.0519364. With a circulating supply of 1.5 billion tons, Toncoin currently has a market capitalization of ~$3.05 billion, making it the 26th largest cryptocurrency according to CoinMarketCap ranking.

On February 17, the Toncoin price stood at $2.31, but on February 20, it closed at $2.37. Opening the day at $2.37, it closed on February 21 at $2.35 and later rose to $2.46 on the 22nd. It shows that Ton has been

Following the Toncoin (TON) price actions over the past weeks, we observed a few ecosystem trends which might be responsible for Toncoin TON’s performances.

Toncoin (TON) Ecosystem Trends

Since this year, the TON network has embarked on hackathon workshops, encouraging developers to build on TON. For example, the team announced a collaboration with Certik, a blockchain-based security platform, to promote security and expert manual auditing for its Hackathon Campaigns.

“The Open Network Releases On-Chain Governance Platform, TON Token Volume Surges 98%”https://t.co/YLv1r55r2O via @coindesk by @OKnightCrypto

— TON 💎 (@ton_blockchain) February 21, 2023

Encouraging DeFi and Web3 developers to build on the TON Blockchain will increase the network’s popularity, boost utility and multiply Toncoin users. This campaign might be among the factors sustaining Toncoin (TON) price now that most coins are down.

On February 21, the TON blockchain released a new on-chain governance platform powered by Orbs, a layer-3 infrastructure. The platform called Ton.vote would allow community members to vote on decisions concerning network developments. This development caused the Toncoin trading volume to spike by 98%.

On February 17, TON blockchain launched a project to empower Web3 startups. The initiative called Hub71+ Digital Assets is a platform that connects startups to the TON network via a $2 billion fund. The fund allows entrepreneurs access to capital, mentorship, and other resources to help them to grow. This project could improve the blockchain network’s adoption and might also be one of the factors supporting Toncoin’s price performance this year.

Recently, Toncoin (TON) trading volume has been increasing steadily. As of February 20, Toncoi had a trading volume of $29.67 million and later rose to $31.92 million on the 21st. At press time, Toncoin has recorded an over 50% increase in trading volume and currently stands at $48.9 million. The increase in trading volume shows that more people are utilizing Toncoin. It also reflects an improvement in investor sentiment on the coin.

Most Searched Crypto Launch - Pepe Unchained

Rating