$TON Analysis: A Potential Rally Ahead? - Beincrypto Analytics

The Open Network (TON) is in the spotlight as USDT issued on TON surpassed $1 billion for the first time on September 15. This increase in liquidity could be a catalyst for future price gains.

USDT on TON grew from under $800 million on August 31 to $1.03 billion now, signaling rising interest. This influx may enhance user engagement, potentially driving Toncoin’s price toward its all-time high of $8.24.

Currently priced at $5.55, Toncoin is down 32% from its June peak. On-chain data shows a rise in the Mean Dollar Invested Age (MDIA), indicating stagnant investments that could limit short-term growth. However, mid-term rally potential remains.

Toncoin has strong support at $5.20, which helps maintain a bullish trend above the 20-day Exponential Moving Average (EMA). Resistance is at $6; if surpassed, Toncoin could rise to $8.32 by Q4. Failure to break $6 may lead to a drop to $5.09.