Toncoin Price Heat Map Reveals $20 Target – Analyst

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of bull runs and bear markets. The current altcoin bull run, or what some are calling the “altseason,” has been particularly intriguing due to its potential for massive gains, especially for coins like Toncoin (TON).

In the recent crypto market slump of the past week, Toncoin (TON) wasn’t an exception. As per CoinMarketCap data, the value of Toncoin decreased by approximately 14.71%, dropping from a stable price range of $6.2 to $6.5. Despite this temporary market drop, cryptocurrency analysts remain optimistic about TON, especially as altseason is yet to reach its full potential.

Toncoin To Gain At Least 280% In Altseason, Analyst Says

In a recent X post, 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’s market dominance. 

As a crypto investor, I’ve been keeping an eye on Toncoin, and I find it interesting that its one-year moving average is currently at $5.14 – a point in its price history where activity tends to slow down significantly. It’s worth mentioning that Toncoin has only seen a prolonged dip below this level during bear markets. However, given the current bullish momentum in the crypto market, I believe that this one-year moving average could potentially mark the local bottom for TON.

Based on this cost level and taking into account several tiers of statistical deviation (sigma), the analyst estimates potential pricing milestones for Toncoin, which are then compared to previous market trends for a more informed analysis.

According to the chart, it’s predicted that Toncoin could initially reach a price of about $8.74 when the altseason begins, which represents a potential increase of approximately 60.6% over its current market value. A more ambitious price target of $15.93 is suggested by the one-year SMA plus 6 standard deviations. The maximum projected price for Toncoin, as proposed by Burak Kesmeci, is $19.53 based on the one-year SMA plus 8 standard deviations.

According to the forecast made by the crypto analyst, it’s possible that Toncoin might experience a 280% increase during the initial stage of an altseason. But remember, since this prediction is calculated using a simple moving average and market prices are always changing, the target price may shift accordingly.

What Now For Toncoin?

This week’s crypto market dip saw Toncoin hit a temporary low at $4.71, but it’s now showing signs of a small rebound as it hovers near the $5.40 range. For Toncoin to meet Kesmeci’s forecasts, it must first overcome a minor hurdle at approximately $6.5 and then tackle a significant obstacle around $7.0.

As an analyst, I’ve observed that daily trading volume for Toncoin has expanded by 3.61%, reaching a significant figure of $619.19 million. With a market capitalization standing at a substantial $13.91 billion, Toncoin continues to hold the ninth position among the largest cryptocurrencies available in the market.

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2024-12-21 19:34