Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Toncoin (TON) at a Crossroads: Crash to $1.5 or Climb to $6?

Toncoin (TON) at a Crossroads: Crash to $1.5 or Climb to $6?

CoinspeakerCoinspeaker2025/03/11 16:00
By:By Parth Dubey Edited by Victoria Ronina

Toncoin (TON) has formed a bearish channel and could potentially jump to $6 or drop to $1.5, depending on the market conditions.

Key Notes

  • Toncoin (TON) has formed a descending channel with a bullish target of $6.
  • If TON loses $2.50, the downside target range is around $1.50–$1.80.
  • A whopping 140,000 TON have been moved to exchanges, suggesting selloffs.

Toncoin TON $2.74 24h volatility: 2.7% Market cap: $6.79 B Vol. 24h: $147.26 M , one of the leading digital assets and top-performing tokens in the first half of 2024, has formed a descending channel, also called a bearish channel with a potential target of $6 in the bullish case and $2 in the bearish case.

A bearish channel is a technical pattern formed when an asset’s price is consistently making lower highs and lower lows, indicating a downtrend. 

As seen in the image below, this pattern is characterized by two parallel downward-sloping trendlines: the upper trendline acting as resistance and the lower trendline as support. A breakout can occur in either direction.

Toncoin (TON) at a Crossroads: Crash to $1.5 or Climb to $6? image 0

Bullish and Bearish Targets for Toncoin (TON)

At press time, Toncoin trades at $2.66, experiencing a 4.18% increase in the past 24 hours. The price is near the lower boundary of the descending channel.

If TON breaks out above the resistance at $3, the target is calculated by measuring the height of the channel and adding it to the breakout level. Based on historical price action, the expected target is around $3.80–$4.

Notably, a strong bullish rally beyond $4 could push it toward $6, but that would require additional confirmation signals like increased volume and a stronger RSI recovery.

On the other hand, if TON breaks below the lower trendline at $2.50, the downside target range is around $1.50–$1.80 based on the height of the channel. 

Supply on Exchanges

According to prominent analyst Ali Martinez, 140,000 TON have been moved to exchanges in the past week. Usually, an increase in supply on exchanges suggests potential selling pressure, as investors may be preparing to offload their holdings.

Over 140,000 #Toncoin $TON have been moved to exchanges in the past week! pic.twitter.com/tr9pkU5H14

— Ali (@ali_charts) March 11, 2025

Using a chart, Martinez highlighted the increased exchange inflows which indicate that some investors may be taking profits or bracing for further downside. If selling pressure continues, the likelihood of a break below $2.50 increases, supporting the bearish case above.

Toncoin Blockchain Growth

Despite price weakness, Toncoin’s blockchain activity remains strong. According to its latest blog post which provides an insight into the developers for Jan-Feb, over 3.1 million new wallets were activated with 170,000–590,000 daily active wallets.

Also, the monthly trading volume stood between $500 million and $700 million with over 20 million to 30 million weekly transactions, ranking TON among the top 8 blockchains.

Further, a 40% increase was seen in the monthly active developers with 906 individuals contributing to the growth of TON.

Manuel “Manny” Stotz, the new president of TON Foundation, is now leading TON’s expansion in the United States. Stotz has been on the board since 2023 and also founded Kingsway Capital, a firm that invests in early-stage companies in the blockchain.

next

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!