- Current support level of Toncoin appears to offer a favorable risk/reward profile.
- The price action of TON targets the $10 mark.
Toncoin [TON] recently displayed a significant shift in price action, catching the attention of investors and analysts alike.
Historical data suggests TON’s price rarely falls below its one-year moving average, typically doing so only during bear markets.
With the overall crypto market in a bullish phase, the one-year moving average might present a favorable entry point, offering a strong risk/reward profile for long-term holders.
Source: CryptoQuant
The question on many minds is whether TON will experience a substantial breakout as its holder base continues to expand.
Prediction amid growing holder count
The current TON support level suggests a promising outlook for long-term investments. Alongside price action, the rapid growth in Toncoin’s holder count stands out.
Recent trends indicate TON may soon surpass Ethereum in the number of holders. With ETH currently boasting 137 million holders, TON has reached 112 million, adding about 500,000 new holders daily over the past month.
Should this growth rate persist, TON could surpass ETH holders by late December. However, if growth decelerates, this milestone might push to early 2025.
