3 Reasons Why Toncoin Price May Surpass $10 in Q4
Highlights
- Toncoin price breakout from the overhead trendline could drive a $10 rally.
- The announcement of Binance’s Launchpool for HamsterCombat and Catizen is expected to drive higher visibility and adoption for TON.
- Toncoin sees significant network growth, with active addresses stabilizing at 2.89 million, indicating growing user engagement.
The cryptocurrency market showed a slight downtick during the U.S. trading session on Saturday as Bitcoin’s price hovered around $16,000. Among the major altcoins, the Toncoin price shows a dip of 1.38% to $6.5 as buyers aim to recuperate bullish momentum before the next potential surge.
Will Toncoin Price Break the $10 Barrier by Q4?
Amid the recent market rally, the Toncoin showed a V-shaped recovery from $4.4 to $5.6, registering a growth of 28%. Here are three reasons this recovery could extend above the $10 psychological level by Quarter 4.
- Toncoin price Bounced as Binance shared Launchpool
- Toncoin Network Sees Surge in Active and New Addresses
- TON Price Hints Major Breakout
Toncoin Price Bounced as Binance Shared Launchpool
Binance, the world’s largest crypto exchange by volume, has recently announced launchpool for two tap-to-earn games from the Telegram platform.
On September 12th, Binance introduced HamsterCombat (HMSTR) as its 58th Launchpool project, and just yesterday, it announced support for another Telegram-based game, Catizen (CATI), marking the 59th project.
This move could significantly boost the visibility and adoption of these games, leveraging Binance’s vast user base and the strong integration of Telegram into blockchain ecosystems like TON. The TON blockchain could see a higher adoption rate with more users attracted to Telegram for gaming.
Toncoin Network Sees Surge in Active and New Addresses
According to Intotheblock data, the Toncoin address stats have been witnessing a notable movement since late August. With the formation of new peaks lately, the active addresses have now stabilized at 2.89 million, while the new addresses have surged to 950.36k.
These on-chain metrics show some of the core growth parameters of the network, indicating increasing user engagement and investors interest.
TON Price Hints Major Breakout
In the last three months, the Toncoin price showed a notable correction from $8.22 to $4.5, registering a 45% increase. However, this pullback showed a 50% retracement as the Fibonacci tool, indicating a healthy correction for buyers to recuperate the bullish momentum. Therefore, the TON price rebounded immediately to reclaim the 200-day Exponential Moving Average yesterday.
With an intraday loss of 1.56%, the TON price retests the 200-day EMA as suitable support before an 8% surge to challenge the overhead trendline. The downslope trendline has been intact since July 2024, which drives the current correction trend. A potential breakout from this barrier could signal the uptrend continuation and chase a potential target of $8.2 followed by $10.
On the contrary, a reversal from the resistance trendline could extend the correction trend.
Frequently Asked Questions (FAQs)
1. Why is Toncoin expected to rise above $10 in Q4?
2. How has the Binance Launchpool impacted Toncoin?
3. How has Toncoin's network activity changed recently?
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