🚀 Toncoin Price Recovery Stalls
Toncoin’s price stalled at $5.71 as Bitcoin and other altcoins pulled back. Despite this, analysts are optimistic TON could resume its uptrend, with a potential 55% surge to retest its all-time high of $8.28.
📉 Bear Market & Analyst Outlook
Toncoin missed the recent crypto rally, remaining in a bear market after falling over 36% from its peak this year. This decline worsened after Pavel Durov’s arrest and the drop in tokens like Catizen and Hamster Kombat. Analysts, however, believe TON may have bottomed out, signaling a possible rebound.
📊 Falling Wedge & Breakout Signals
Analyst 8TML notes consolidation between $4.60 and $4.80, expecting a bounce. Babenski identified a falling wedge pattern, suggesting a bullish breakout. A falling wedge forms when descending trendlines converge, often leading to a breakout.
📈 Rising Transactions & Ecosystem Growth
Tonstat data shows a rise in TON transactions, with 7.27 million processed on November 11—the highest since late October. Daily active wallets reached 855,286, while DEX trading volume hit August highs. TON holders have grown to over 100 million, signaling strong network health.
🔍 Bullish Price Analysis
The daily chart shows a double-bottom pattern at $4.46, with a neckline at $6.13—a bullish signal. TON has broken out above its falling wedge and flipped its 50-day moving average into support. The Supertrend indicator is also green, suggesting more upside.
⚠️ Upside & Downside Risks
If bulls break the neckline at $6.13, TON could surge 55% to its high of $8.27. However, a drop below $4.456 may signal more downside, potentially falling to $4.
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