Toncoin (TON) is the native cryptocurrency of The Open Network (TON), originally launched by the Telegram team. Toncoin is used for transaction fees, securing the network via Proof of Stake (PoS) mechanism, participating in network governance, and settling payments.
Current Price Performance: As of February 27, 2025, Toncoin is trading at $3.457, with a decrease of 1.07% over the past 24 hours. The daily trading volume is $194,001,371.51, representing a decline of 3.80% compared to the previous day.
Technical Analysis: Toncoin has seen a significant downward trend recently, with the price dropping from levels of $4.00 to below $3.60. Technical indicators suggest that this bearish trend will continue.
Moving Averages: The price is currently trading below the 50 and 200-day exponential moving averages, indicating ongoing selling pressure.
Relative Strength Index (RSI): The RSI is in the overbought territory, which may indicate the likelihood of a corrective bounce in the near term.
Support and Resistance Levels: The $3.60 level is considered a key support, and if broken, the price may head towards $3.30. The immediate resistance is at $4.00, and surpassing it may indicate a reversal in trend.
Fundamental Analysis: The TON network faces some challenges, as the number of monthly active wallets has dropped to 4 million, the lowest level since July 2023. The total value locked (TVL) in TON DeFi protocols has also decreased to $172 million, placing the network in thirty-seventh position among blockchain networks. These indicators may reflect a decline in network activity and user adoption.
Future Outlook: Considering the technical and fundamental analyses, Toncoin may face further selling pressure in the short term. However, an improvement in market sentiment and increased network activity could support the price and restore higher levels. Investors are advised to monitor updates and developments in the TON ecosystem, as well as follow key technical indicators, before making investment decisions.
*Note: These analyses are based on data available until February 27, 2025, and market conditions may change over time.*