Toncoin Faces 46.19M Sell Wall, Challenging Its Path Beyond $5

Toncoin (TON) struggles to surpass the $5 mark as a massive 46.19 million TON sell wall limits its growth. With a modest 5.7% monthly gain and broader crypto market optimism, can Toncoin break free and reclaim bullish momentum?

Toncoin Confronts Major Resistance Amid Market Optimism

Toncoin (TON) has encountered a formidable obstacle in its upward trajectory—a massive 46.19 million TON sell wall. This resistance has left investors questioning whether the cryptocurrency can push past the $5 threshold and sustain its bullish momentum.

At the time of writing, TON is trading at $5.43, reflecting a 1.39% decline over the last 24 hours. Despite this dip, the coin has shown modest growth of 1.01% over the past week and 5.7% over the last month, according to CoinMarketCap.

Toncoin in the Bull Market Cycle

Toncoin’s recent rally to the $5 level was fueled by a broader bullish sentiment within the cryptocurrency market. Experts remain optimistic, with predictions suggesting TON could hit $100 by 2025, driven by continued network expansion and adoption.

Ranked as the 13th-largest cryptocurrency with a market capitalization of $13.86 billion, Toncoin has cemented its position as one of the best-performing altcoins of 2024. A significant milestone was Tether’s announcement to launch a Dirham-pegged stablecoin on the TON blockchain, showcasing its growing ecosystem.

Navigating the 46.19M Sell Wall

Despite its achievements, the massive sell wall presents a critical challenge for TON. Historically, such barriers have deterred price movement, as the sheer volume of sell orders creates significant resistance.

For Toncoin to overcome this hurdle, a surge in buying pressure and network activity will be essential. Investor confidence, coupled with further adoption of the TON blockchain, could provide the momentum needed to break past this constraint.

Looking Ahead

While Toncoin’s price remains tethered to the $5 mark, its potential for long-term growth cannot be ignored. With expert forecasts projecting a $100 price point by 2025, TON remains a cryptocurrency to watch as it navigates market challenges and opportunities.

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