Ton coin (TON) is attempting a price rebound as it looks to shake off bearish pressure and retest new price levels. The asset’s on-chain and technical indicators suggest a rally might occur soon as TON prints fresh rallies.
Notably, some of the coin’s performance metrics are green. Those are fueling the projected rally expectations.
Ton coin Price Signals a Bullish Rally Ahead
According to market data, TON’s price was changing hands at $2.95, a 2.88% increase in the last 24 hours.
It is significant, considering the combined crypto market capitalization has increased by 0.43% within the same time frame.
Toncoin price rose from a low of $2.79 in early market activity and breached the $3 resistance level, supported by a retail buying frenzy.
The coin soon experienced a correction, which pulled back to its current level.
However, the uptick has sparked investors’ optimism that the coin can retest higher levels. Many are eyeing the $3.5 price mark.
Interestingly, TON coin traded around $4 on the first day of April before commencing a downward spiral shortly afterward.
It found support at $2.70, and now it appears to be set to achieve new heights as the broader market consolidates.
Market experts remain optimistic that TON’s price could register a breakout and flip to $3.50 if the project gains support from the community and investors.
Whale Activity Surges as TON Price Eyes $3.50
Based on a recent update shared by Santiment on X, Toncoin whales might have triggered this current rally.
Notably, the on-chain market intelligence platform recently tracked the top 10 crypto projects with the largest spike in whale transactions.
Over the last 30 days, TON whales ranked fifth in large-volume transactions. These were surpassed only by notable giants, such as GateToken (GT), USDC, LEO, and LINK.
A 100% spike in whale transactions on TON coin suggests that major investors are accumulating the coin as market stability sets in.
Generally, whale activity spikes often lead to price increases for most altcoins in the crypto market.
Some consider whales to have deeper insights into market dynamics and usually sense an incoming rally ahead of other market participants.
In the last 24 hours, whales in the ecosystem have transacted 923.21 million TON cryptos.
According to IntoTheBlock data, the figure soared to 1.82 billion TON units within the last seven days.
Beyond the whale action, recent ecosystem developments are likely to support a price rally.
Paykassa.pro, a digital business payment processing platform, has added TON to its listings.
Commencing this April, users can accept and process payments in TON on the platform.
Paykassa.pro’s strategic expansion further enhances the options available to businesses seeking safe, reliable, and cost-effective payment methods.
Primarily, these businesses operate as crypto exchanges, fundraising, and e-gaming ecosystems.
Analysts Highlight Technical Indicators That Tease the Bull Run
With these developments, analysts have dropped predictions on the likely price outlook for TON.
For instance, Darco, on X, noted that with the current technical indicators, Toncoin price can move upwards towards $3.25.
Others remain optimistic that TON cion could hit $3.50 and likely retest the April 2025 opening price of $4.
Ali Martinez, a renowned analyst, also shares this optimism. He noted that TON’s TD Sequential signaled “buy” and that the coin could post a rebound.
Worth noting is that the TD Sequential is often used to spot a reversal in the prospect of an asset and a new bullish cycle.
If the current price setup plays out, Ton coin might soon reclaim the $3.5 price mark. Businesses are adopting TON at a fast pace to increase the coin’s utility. Despite general market pressure, TON is defying market trends.
