Toncoin price prediction as the token continues to struggle below $3
Main Idea
Toncoin (TON) is struggling to break the $3 resistance level, trading at $2.81 with technical indicators suggesting potential reversal but facing challenges from market sentiment and lack of recent developments.
Key Points
1. Toncoin is currently trading at $2.81, down over 65% from its 2024 high of $8.33, and has failed to break the $2.88 resistance level since mid-June.
2. The token is consolidating within a tight range ($2.70-$2.88) with no clear dominance from bulls or bears, and remains below its 200-day and 50-day EMAs.
3. A descending triangle pattern and RSI divergence hint at a possible reversal, but a breakout above $2.88 with higher volumes is needed for bullish momentum.
4. Negative sentiment persists due to a recent controversy involving residency eligibility in the UAE, despite the Toncoin Foundation's clarification.
5. Lack of substantial development updates or new partnerships since Q1 2025 has contributed to the token's bearish performance.
Description
Toncoin (TON) is currently trading at $2.81 with a 2.14% gain over the past 24 hours, but remains under firm selling pressure after a prolonged downtrend stretching over 390 days. Source: CoinMarketCap Despite a market capitalisation of $6.96 billion and 24-hour trading volume of $140.32 million, TON has failed to break out of its descending structure. The token’s inability to recover above the $3 mark reflects broader concerns around investor confidence and network utility, even as technical in...
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