Solana and Toncoin Poised for New Peaks: Here’s Why
The post Solana and Toncoin Poised for New Peaks: Here’s Why appeared on BitcoinEthereumNews.com.
Analysts predict that Solana could find support around $215 and rebound strongly in 2025, potentially reaching $600. Positive on-chain data shows a reduction in TON’s supply on exchanges, signaling less selling pressure, which could support a continued rally toward an all-time high of $10. As the altcoin market has witnessed participation from different players amid capital rotation, crypto traders are eager to find the assets that can deliver strong returns next. While Solana (SOL) and Toncoin (TON) have been early participants in the altcoin rally, their rallies have stalled in recent weeks as XRP, DOGE, ADA, and others take the lead. However, after this hiatus and a period of brief consolidation for TON and SOL, crypto traders are once again betting on these two altcoins that can reach their all-time highs. Tokens like Bitcoin, PEPE, and Tron (TRX) have reached all-time highs in 2024, while assets like Ripple (XRP) and Cardano (ADA) have regained prominence as the industry experiences a resurgence. As 2025 approaches, two tokens could be poised to capitalize on this positive sentiment. Toncoin (TON) Price Action After consolidating around a while around $5.5 following the Donald Trump victory in early November, Toncoin (TON) finally joined the altcoin market party surging all the way to $7 in early December, per the CNF report. However, since then it has been facing rejection and moving sideways. During the strong altcoin market correction in the last 24 hours, the TON price dipped another 11%, slipping under $6 levels. While the TON price faces selling pressure, the 24-hour trading volume has surged 135% all the way to $800 million. Furthermore, there have been positive on-chain development for TON. On-chain data reveals an intriguing trend—TON’s supply on exchanges decreased from 1.75 million to 1.68 million in early December. With reduced selling pressure from…
Filed under: News - @ December 10, 2024 6:15 pm