{"id":30257,"date":"2024-12-21T16:30:32","date_gmt":"2024-12-21T16:30:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30257"},"modified":"2024-12-21T16:30:32","modified_gmt":"2024-12-21T16:30:32","slug":"toncoin-price-heat-map-reveals-20-target-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30257","title":{"rendered":"Toncoin Price Heat Map Reveals $20 Target \u2013 Analyst"},"content":{"rendered":"

Prominent altcoin Toncoin (TON) was not left out of the widespread crypto decline in the last week. According to data from CoinMarketCap, the price of Toncoin dipped by 14.71% over the past seven days falling from a consolidation range between $6.2-$6.5. <\/a>However, this market downturn does not deter market experts\u2019 bullishness on TON especially with the altseason<\/a> yet to go into full effect.\n<\/p>\n

Toncoin To Gain At Least 280% In Altseason, Analyst Says<\/strong><\/h2>\n

In a recent X post<\/a>, popular crypto analyst Burak Kesmeci revealed multiple price targets for Toncoin in the current altcoin bull run\/altseason, a period where altcoins generally outperform Bitcoin in price appreciation indicated by a decline in Bitcoin\u2019s market dominance.\u00a0<\/p>\n

Firstly, the analyst notes that Toncoin\u2019s 365-day moving average currently at $5.14 has historically represented a region where price activity significantly slows down.\u00a0Notably, Toncoin has only experienced a prolonged price dip below this level in a bear market. However, with the crypto market in a bull cycle, Kesmeci postulates that a one-year SMA could represent the potential local bottom for TON.\u00a0<\/p>\n

Therefore, using this price point with multiple levels of standard deviation (\u03c3), the analyst predicts possible price targets of Toncoin that are statistically compared to historical data.\u00a0<\/p>\n

From the chart below, Toncoin is expected to hit an initial price of $8.74 as the altseason takes off based on the price level revealed by the one-year SMA + 2\u03c3. This indicates a potential 60.6% gain on the altcoin\u2019s current market price.\u00a0Thereafter, a higher price band of one-year SMA + 6\u03c3 indicates a price target of $15.93. The final price goal for Toncoin by Burak Kesmeci is based on the one-year SMA + 8\u03c3 and set at $19.53.<\/p>\n

Going by this prediction, the crypto analyst states that Toncoin could have gained by 280% in the first phase of the altseason. However, investors should note that price targets are likely to change with moving prices as the projection is based on the simple moving average.<\/p>\n

What Now For Toncoin?<\/strong><\/h2>\n

Following the crypto market decline this week, Toncoin found a local price bottom at $4.71 and is currently undergoing a modest price recovery as it hovers around the $5.40 price zone. In attaining any of Kesmeci\u2019s price predictions, the altcoin will need to break past a minor resistance at the $6.5 price region and also overcome a major price opposition at $7.0.<\/p>\n

In other developments, Toncoin\u2019s daily trading volume has grown by 3.61% attaining a value of $619.19 million. With a market cap of $13.91 billion, the digital asset remains the ninth-largest cryptocurrency in the market.<\/p>","protected":false},"excerpt":{"rendered":"

Prominent altcoin Toncoin (TON) was not left out of the widespread crypto decline in the last week. According to data from CoinMarketCap, the price of Toncoin dipped by 14.71% over the past seven days falling from a consolidation range between $6.2-$6.5. However, this market downturn does not deter market experts\u2019 bullishness on TON especially with […]<\/p>\n","protected":false},"author":0,"featured_media":30258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30257"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30257"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30258"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}