Toncoin (TON) has had quite an impressive year in 2024. TON hit an all-time high of $8.01 this morning.
Popular crypto analyst Ali Charts paints a rather bullish picture for the 10th largest crypto by market cap. Ali Charts anticipates TON to hit $11, a rally of nearly 40% from current price levels. Ali Charts also warns that TON’s price could briefly dip to $7.2, a dip of about 9% from current prices. After falling to $7.2, the analyst predicts TON to pick up momentum once again after it gathers liquidity.
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TON has consistently hit new peaks throughout this year and may continue to do so for the foreseeable future.
How high can Toncoin (TON) go?
One of the most significant factors driving TON’s price is its user activity. Artemis data shows that TON’s daily active users has outshined Ethereum’s for most of June 2024. The project also has 900 million users on its Telegram platform.
Also Read: Toncoin: 200% Yearly Gains has TON Targeting $9 in 2024
TON will likely continue its bullish trajectory, as pointed out by some analysts. According to CoinCodex data, the asset’s price could surge to $27.24 on July 12, 2024. Hitting $27.24 means a rally of over 244% from current price levels.
Also Read: Toncoin Surges 13% Post-Pantera’s Investment: When Will It Hit $10?
The cryptocurrency market may turn for the better in the coming days, especially given that inflation figures for the US in the month of May have come in lower than many had expected. This could potentially mean that the Federal Reserve will consider cutting interest rates earlier than previously thought. An interest rate cut from the Fed may improve investor sentiment and consequently lead to higher inflows into risky assets.