Toncoin (TON) has become one of the few altcoins demonstrating a bullish trend in the current market conditions.

Investor optimism may push TON to a new all-time high in the coming weeks.

Investors are Confident in Toncoin's Future

Toncoin is attempting to overcome an important resistance level. This time, the breakthrough might be successful as investors are showing bullish sentiment and prefer to hold assets rather than take profits.

This is confirmed by the metric of active deposits on exchanges. An increase in this metric signals a potential sell-off and a bearish outcome.

The graph below shows that TON active deposits have reached a two-month low, indicating that holders expect the price to rise.

Additionally, in the past few days, the number of coins held by mid-term holders has increased by 7%, raising their share to 50% of the total supply, which amounts to 5.2 million TON valued at $33.8 million. If this trend continues, the asset price might experience another rally.

TON Price Forecast: Awaiting a Breakthrough

The last time Toncoin's price overcame the $6.5 barrier, it rose to $7. Although the altcoin failed to consolidate above this level, it confirmed it as a critical resistance and support level.

If the next breakout attempt is successful, TON will likely reach a new high and head towards the next resistance at $7.67.

However, if TON fails to hold above the key level, the price will return to $6.0. If this support is lost, the altcoin may fall to $5.4.