TON Coin Price Prediction: Will TON Hit $10 Soon?

Ton has achieved a significant milestone with the token attaining a new all-time high of $7.3. Despite the subsequent correction, TON's ability to defy bearish headwinds and its performance has left analysts and investors speculating whether it could soon hit the $10 mark.

Toncoin (TON) has surged past a key resistance level, notching a new all-time high and sparking speculation about a potential rally towards the $10 mark. Despite a subsequent correction, TON’s resilience in a bear market has left traders bullish.

Charting a bullish path, Toncoin surged past the $7 resistance level on June 11, notching a new all-time high of $7.3. However, the subsequent 4.79% correction saw TON trading at $7.86 on June 12.

Despite the correction, which appears significant in the short term, it doesn’t derail TON’s broader bullish price action, which began forming on May 1.

Over 41 days, TON has maintained a bullish trend, evident in the higher highs and higher lows on the chart. Notably, the price action showcases multiple peaks and troughs, indicating a bull flag formation.

Charting a closer analysis reveals that this formation usually occurs during a period of consolidation following a strong directional move and is characterized by parallel trendlines connecting the highs and lows.

Typically, a breakout from the upper trendline signals a continuation of the prior bull trend. In this case, the upper trendline resistance lies around the $10 price level. Hence, a breakout from this level could propel TON towards the $10 mark.

Moreover, technical analysis indicators also support the bullish outlook. The Chaikin Money Flow remained elevated despite the price dip, indicating continuous investor asset inflows into the network.

However, the Relative Strength Index also dipped, indicating a temporary loss of momentum. Importantly, the RSI remained above 50, suggesting some underlying bullish sentiment persists.

One major factor that has contributed to the token’s price surge is the integration of Tether (USDT) into the Ton network. Since USDT launched on the network in April, TON has seen a significant increase in its circulating supply.

In particular, USDT has seen a massive surge in circulatory supply, recording a 76% growth in just one month to reach an impressive $580 million. This uptick in USDT’s circulating supply has corresponded with a surge in user activity on the Ton network.

During the same period, the network observed daily active users skyrocketing by 300% to reach a record high of 632,000. This increasing user activity signals growing interest and utility in the network, both of which are crucial for the coin’s future success.

Several factors are driving the token towards the $10 mark. The ongoing integration of Tether, which is directly pegged to the dollar, is a key factor in this growth trajectory.

With USDT available on the Ton network, it not only enhances liquidity but also attracts more users and developers to the ecosystem. In the future, the addition of even more robust developer tools and the development of EVM-compatible Layer 2 solutions could further accelerate growth on the Toncoin network.

Additionally, the network also plans to introduce decentralized exchanges with non-standard order execution models, including limit order book-based exchanges, to attract a wider range of developers and users, ultimately leading to a more optimal ecosystem.

News source：https://www.kdj.com/cryptocurrencies-news/articles/ton-coin-price-prediction-ton-hit.html

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