- present Toncoin’s support levels appear to offer a favorable risk/reward profile.
- Price action for TON targets $10.
Toncoin (TON) has recently attracted the attention of investors and analysts alike, with significant changes in its price movements.
Historical data shows that the price of TON rarely falls below its one-year moving average and typically only falls during bear markets.
With the overall cryptocurrency market showing strength, a one-year moving average can provide a favorable entry point, offering a strong risk/reward profile for long-term holders.
Source: CryptoQuant
The question many are wondering is whether TON will experience a significant breakout as its holder base continues to expand.
Forecast based on increase in number of holders
Current TON support levels suggest promising prospects for long-term investment. Along with the price movement, a rapid increase in the number of Toncoin holders is also noticeable.
Recent trends suggest that TON may soon surpass Ethereum in number of holders. While ETH currently has 137 million holders, TON has reached 112 million, with approximately 500,000 new holders added every day over the past month.
If this growth rate continues, TON could outperform ETH holders by the end of December. However, if growth slows, this milestone could be extended until early 2025.
Source: CryptoQuant
In terms of price action, TON’s recent performance has been mixed. The 4-hour TON/USDT price chart showed a clear downward trend after breaking out of the descending triangle.
This pattern served as an important base by establishing a support level around $4.50. After this drop, TON rebounded and formed a rising wedge in what is generally seen as a bearish setup, suggesting that there may be downward pressure.
Source: Trading View
TON’s main resistance level is around $5.41, a point it is struggling to hold. If TON breaks above this level, we could target the next important resistance at $6.05.
However, if TON fails to break out, it could fall back to the $4.50 support level. As of press time, TON is trading around $5.15, with momentum suggesting it may rise to $5.71. If TON breaks above $5.71, it could aim for a significant rise towards $10.
TON fees and supply
Meanwhile, September 27 marked a notable moment in Toncoin’s blockchain history, with users paying a record total fee of 77,972 TON. At a price of $5.79, this is equivalent to approximately $451,457.
This highlights the growing demand for Toncoin’s blockchain services and supports its long-term growth potential.
The current total supply of TON is 5.11 billion compared to Solana’s supply of 587.38 million. If TON’s fully diluted valuation (FDV) eventually matches Solana’s value, the price could reach $20.47.
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Source: X
Toncoin’s growing user base and favorable support levels could present an attractive opportunity for investors.
The current trend appears bullish, but sustained buying pressure and a break above resistance levels are essential for a significant upward trajectory.