- Institutional investment fuels bullish sentiment, strengthening Toncoin’s long-term market confidence.
- Technical indicators and rising open interest suggest a potential rally toward $4.62.
The TON cryptocurrency maintained a market value of $3.90 on Monday after growing nearly 6% throughout the past week. TON Foundation witnessed major success after it obtained a $400 million investment from notable venture capital investors in March. A significant investment totaling $400 million displays institutional excitement about the network which reinforces positive price projection.
The technical indicators, together with open interest data, point toward an upward price movement of TON that may reach $4.60. According to Crypto News Flash, Toncoin (TON) attracts rising investor attention because of its high open interest delta, along with increasing whale stake decisions and a significant upcoming roadmap for 2025.
Institutional Backing Strengthens Market Confidence
On Thursday, the TON Foundation disclosed that major venture capitalist firms like Sequoia Capital and others, including Benchmark and Ribbit Capital, successfully purchased over $400 million worth of Toncoin alongside Draper Associates together with Vy Capital and Kingsway and collectively with CoinFund and Hypersphere. The funding round led by the foundation has secured multiple prominent investors who established this transaction as a major institutional crypto investment in the market during the past few years.
Investors used Toncoin tokens to support the funding round as they demonstrated their direct belief in how the tokens operate in the ecosystem and their intrinsic value. According to analysts, this funding model cuts out traditional legal financial channels, which allows direct investment growth in the network. The recent investment round indicates a possible return of institutional crypto sector involvement because venture capital activity has experienced a steady decline during the last two years. Sure, investment in Toncoin without equity reduces the time span for capital to reach practical implementation while strengthening the network’s longevity.
Market confidence in Toncoin continues to grow because open interest (OI) on its futures market shows an upward trend. The Coinglass data shows that open interest (OI) in TON futures contracts reached $192.20 million on Monday, marking its highest value within the current year, as it started from $151.28 million on March 26. Market sentiment can be evaluated through open interest because this measure reveals the entire number of outstanding derivative contracts. When open interest increases in the market, new funds from investors show support for higher prices in the future. The market values of TON will likely rise in response to increased investor and trader participation because it results in enhanced buying activity.
Technical Indicators Signal a Bullish Continuation
The current price movement of Toncoin demonstrates compelling evidence of continued upward market movement. The cryptocurrency started consolidating after its break of the descending trendline in the middle of March before it regained momentum again. The cryptocurrency market showed positive signs when TON increased more than 10% after the $400 million investment news came out while experiencing slight downturns during the weekend. The price of Toncoin reached $3.68 as its support level on Sunday before experiencing a 5.22% bounce back up.
The bullish forecast receives validation through technical indicators. The daily relative strength index (RSI) currently stands at sixty, which exceeds 50 and moves upward, illustrating growing bullish market momentum. A recent positive cross between signals on the Moving Average Convergence Divergence (MACD) serves as a new signal to purchase with indications of future upward trends.
Technical analysts predict that Toncoin will retest the next significant resistance at $4.62 after it upholds its current support level at $3.68. Strong institutional backing and rising open interest, together with positive technical indicators, suggest TON will continue its rally, which positions it as an important token in the next few weeks.
