Toncoin (TON) Price Prediction: New Highs Await as Investors Turn Bullish

Toncoin's (TON) price is looking at gains again as the positive cues make a comeback, particularly that of the investors.

Toncoin (CRYPTO: TON) is seeing a return of the bullish cues, especially from investors, as evidenced by their increasing confidence.

Investors are bullish on Toncoin, and one key indicator is the shift in supply from short-term (holding for less than a month) to mid-term (holding for more than a month and less than a year) holders. Around 4% of TON's supply moved into mid-term wallets, indicating a preference for sustained gains.

Furthermore, the active addresses are currently around the same level as when TON last hit its recent all-time high (ATH), suggesting that investors are actively engaging and aiming for a potential rally.

As network participation increases, so does transaction volume, ultimately improving liquidity in the market, which is always beneficial for any crypto asset. Hence, the prospects for a rally are promising.

Toncoin is trading at $7.30 at the time of writing and is looking to climb back above the uptrend line, which it has been trading below since May.

If Toncoin manages to do so, it will breach and flip $7.53 into a support floor. This will be crucial for Toncoin as it aims to rally further and eventually breach $8.28 to set a new all-time high.

The last ATH was back in June, around this time, and a repeat will lead to substantial gains for investors.

However, if the breach of $7.53 fails, the altcoin could lose its bullish momentum and slide to find support at $7.07. Losing this support will lead to deeper losses for investors and will also invalidate the bullish thesis for Toncoin.

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