Anticipated Bullish Surge for Toncoin (TON) on the Horizon
Renowned cryptocurrency analyst, Ali Martinez, has recently made a prediction regarding a potential bullish rally for the cryptocurrency Toncoin (TON). Martinez’s analysis suggests that the asset may experience a breakout of over 10% in the near future.
Martinez, who shared his technical analysis on social media platform X on June 27, believes that Toncoin, the native cryptocurrency of the TON network, is poised to increase in price by 12%. The TON network, a decentralized layer-1 blockchain, was developed in 2018 by encrypted messaging platform Telegram.
If Martinez’s prediction comes to fruition, the price of Toncoin could reach as high as US$9, marking a new historical peak for the cryptocurrency.
“Toncoin is poised for a 12% rise towards $9 after breaking out of an ascending triangle!” Martinez stated, accompanied by a chart illustrating the TON price projection.
The highest price ever recorded for Toncoin (TON) was $8.25, which occurred on June 15, 2024, just 14 days ago. Currently, the price of Toncoin is 8.56% lower than its historical peak. As of the time of publication, Toncoin is valued at US$7.54, representing a 1.2% increase in the last 24 hours. Over the past week, TON has experienced a 6.6% appreciation.
It is important to note that Martinez previously made an optimistic forecast for Toncoin, predicting a potential upside breakout of a staggering 40% that would push the price to the $11 range.
Toncoin (TON) has gained significant prominence in the crypto market. Initially created by the Telegram messaging app team, Toncoin and its network were designed to be high-performance, capable of handling large volumes of applications and transactions.
Disclaimer: The views and opinions expressed by the author, as well as anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Brad Garlinghouse Supports the US as a Blockchain Hub
Could Cryptocurrencies Become Trump’s Main Trade? Bernstein Analysis
