Toncoin (TON) has shown remarkable growth over the past year, surging 140% and reaching an all-time high (ATH) of $8.24 last August.
However, recent price action has put the token under pressure, with a 15% drop in the past week. Analysts warn that if TON loses its critical $5 support, it could face a further 30% decline.
Current Market Challenges
Toncoin is already down 34% from its ATH, and a further fall could see the asset trading near $3.76, a level that would raise alarms among investors.
Despite this bearish outlook, some believe the current dip is a correction phase, with potential for a rebound as broader market conditions improve.
| Metric | Value |
|---|---|
| ATH | $8.24 (August 2024) |
| Current Price | $5 |
| Potential Low | $3.76 |
| Decline from ATH | -34% |
The $5 Support Level
The $5 support level is critical for TON’s short-term prospects. Analysts note that breaking below this level could confirm a bearish trend, potentially triggering a slide to $3.76.
However, maintaining this support could provide a foundation for recovery.
Bullish Outlook for 2025
Despite the current downturn, market analysts remain optimistic about Toncoin’s long-term potential. The cryptocurrency market is expected to recover in 2025, fueled by favorable regulatory developments and renewed investor interest.
Key Predictions
According to CoinCodex, TON could far exceed its $8 ATH in early 2025:
- January 2025: TON is projected to hit $28, representing a 382% surge from current levels.
- Post-May 2025: The token is not expected to revisit the $20 level after mid-year, suggesting a peak in early 2025.
| Timeline | Projected Price | Growth from Current Price |
|---|---|---|
| January 2025 | $28 | +382% |
| After May 2025 | Below $20 | Uncertain trajectory |
Indicators Suggest Mixed Signals
While Toncoin’s price action and technical indicators currently suggest a bearish trend, the wave count analysis remains bullish. The direction TON takes from its $5 support level will likely define its trajectory for the coming months.
Toncoin faces a pivotal moment. A breakdown below $5 could result in significant losses, but holding this level may pave the way for recovery and eventual growth.
With a potential rally in 2025, TON remains an asset to watch, albeit with caution given the current market volatility.
