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Steve Muchoki
Steve Muchoki
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- May 15, 2025 23:30 UTC
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Toncoin Price Analysis and Short Term Targets
TON Consolidates in Symmetrical Triangle with 47% Breakout Potential Despite recent market correction, TON holds above key support, with analysts eyeing a breakout toward $4.50+ in coming days.
Toncoin (TON) Surges to $6.40 on Pantera Capital Investment Backed by Telegram’s massive user base, TON’s DeFi growth and bullish technical setup signal strong short-term upside potential.
The wider altcoin market, including Toncoin (TON), recorded a mild correction in the past 24 hours. After an impressive rally last week, the wider altcoin market experienced a significant cooling down of the bullish sentiment, hence resulting in $357 million forced liquidations of long traders.
TON price dropped nearly 4 percent in the past 24 hours to trade about $3.09 on Thursday, May 15, during the late North American trading session. As a result, the large-cap altcoin, with a fully diluted valuation of about $15.8 billion and a 24 hour average traded volume of about $229 million, had dropped about 4 percent in the past two weeks.
Toncoin Network Thrives on Telegram Messenger
The TON ecosystem has grown exponentially in the recent past mainly fueled by the vast Telegram community. According to market data from Defillama, the TON network had a total value locked of about $152 million and a stablecoins market cap of around $1.01 billion at the time of this writing.
Meanwhile, market data from CryptoRank shows that the Telegram Gifts daily turnover has been growing exponentially since early May, reaching $1.8M two days ago. The majority of Telegram NFT volume came from the Tonnel platform with about $1.2 million, and Fragment with about $220K.
What Next for TON Price
Since hitting its all-time high, about $8.25 on June 15 2024, the TON price has been trapped in a correction mode to date. However, TON price has established a robust support level above $2.5, which previously acted as a resistance level.
In the daily timeframe, TON price has been consolidating in a symmetrical triangular pattern since early March. Crypto analyst Ali Martinez opined that TON price is well positioned for at least a 47 percent pump if a breakout above the upper border occurs in the coming days.
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