A Prelude to a Downward Movement?

The TON crypto price holds steady near the 200-Day EMA and delivers a slightly negative outlook in the intraday session.  Moreover, the volume received has been low in the recent sessions due to which multiple weak and indecisive candles are being formed. 

Moreover, the TON crypto price has been hovering back and for the last two months delivering a sideways trend. The crypto price has been rolling between the upper and lower boundary of a 18% range. 

The buyers have positioned themselves near a round level of $2 and 200-Day EMA. whereas, the sellers have firmly established themselves near the $2.5 level and halting the further upside movement. At press time, Toncoin crypto was at $2.07, recording a slight loss of 0.48% intraday.

The TON crypto price is hovering in the range and unable to find a clear direction as of now.  The breakout or breakdown of the range may decide the next clear trend in the short-term.  

The TON token has a live market capitalization of $7.175 Billion and ranks 15th among all the cryptocurrencies. It had a 24-hour trading volume of $27.20 Million with an intraday increment of 12.54%.

Toncoin Trend Analysis

The daily chart shows that the broader term maintained a positive outlook from early September 2023 to mid-November 2023. The Toncoin price almost doubled in the period rising from $1.4 to $2.8.

Since November 2023, TON crypto price has undergone a correction phase and witnessed a two-month consolidation near the lower levels. The consolidation may end if the price breaks on either side. 

Now, The breakdown below the 200-Day EMA and $2 level may trigger long unwinding and the TON crypto may test the lower levels of $1.8 and $1.5.

Whereas, The TON crypto may also show a breakout if it rises above $2.5. Any breakout of the mentioned level may add more buyers and the price may challenge the upper levels of $2.75 and $3 level. 

At the time of writing, the RSI was at 42.04 points, and the 14-day SMA line was at 44.61. Both the RSI line and SMA line have gone flat with mild volatility suggesting a consolidation in the price.  

Toncoin Price Prediction for February 2024

The positive view of analysts predicts an upside potential of over 16.65% in February 2024, which could take the TON token price near the upper boundary of the consolidation at $2.5. On the other hand, the bearish view of analysts predicts that the price could drop to the $1.8 and $1.5 level after the breakdown of $2.

Toncoin Price Prediction for 2024

The price prediction for 2024 shows that the TON token may advance to a high of $2.98 by the end of 2024. The less optimistic analysts estimate a price target of $2.54 by the end of the year.

Toncoin Price Prediction for 2025

The price may hit the $4.38 mark, suggesting an upside potential of 121.6% by 2025. The pessimistic view is that the price could reach $3.44 by the end of the financial year 2025.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.