Toncoin (TON) has had a stellar year so far in 2024. The asset hit an all-time high of $7.63 on April 11, 2024, just over a month ago. Despite the incredible performance this year, TON has faced a 3% correction in the daily charts and a 12.5% correction in the weekly charts. Nonetheless, the asset has maintained some gains from its April rally, rising 3.7% in the 14-day charts and 2.5% over the previous month.
Also Read: Toncoin Surges 13% Post Pantera Investment: When Will It Hit $10?
While TON is down by 16.9% from its all-time high, some analysts anticipate the asset to surpass its previous peak this week.
Toncoin (TON) to hit a new all-time high
According to CoinCodex, TON’s price could surge to $7.70 on May 24, 2024, a new all-time high. Moreover, the platform anticipates the asset to continue its bullish trajectory over the next few weeks. CoinCodex predicts TON to hit $21.70 on June 17, 2024. Hitting $21.70 for current price levels would entail a growth of about 241.7%.
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Changelly also predicts Toncoin (TON) to hit a new all-time high this week. The platform anticipates the asset to reach $7.76 on May 23, 2024. Furthermore, the platform predicts TON to hit $21.84 on June 16, 2024, a rise of nearly 244% from current price levels.
However, there is also a possibility that TON’s price will consolidate at current levels. The cryptocurrency market has not shown a lot of movement in the last few days, although the cooler-than-anticipated inflation numbers led to a slight rebound. Bitcoin (BTC) is the current market leader, and other altcoins follow its lead. The crypto market may have to wait for BTC to show positive movements before breaking out into a rally.