Toncoin: Can thriving dApps push TON’s price to $5?

• The growth in TON dApps highlights the rising demand for DeFi solutions, cross-chain functionality, and tools on the blockchain.
• The price action of Toncoin broke through the downtrend channel, signaling a potential change in trend if the breakout is sustained.

The growth in dApps on the Toncoin [TON] blockchain highlighted the rising demand for DeFi solutions, cross-chain functionality, and tools across the broader crypto.

Demand for developing meme tokens remained strong on STON.fi, which retained its position as the largest TON dApp despite a 13.1% decrease in users, dropping to 91.5K.

GOAT dApp experienced remarkable growth, surging by 1,519% to reach 7.12K users, driven by high demand for AI-based gaming apps.

In contrast, DeDust and Velo saw significant declines, with user counts falling to 46.9K (-65.9%) and 43.9K (-78.3%), respectively.

Similarly, Dropee reported a user base of 43K, reflecting an 18.4% decline, while Blum dropped to 19.2K users, down by 55.4%, due to gaming-related issues.

Source: X

TON’s declining user base could hinder its growth potential in DeFi development, reducing both liquidity and developer engagement.

However, the gaming sector’s growth offers a chance to offset this decline and sustain participant interest.

A price rebound for TON is likely if developers integrate its ecosystem into future projects. The network’s price potential can be gauged by monitoring activity trends, as increased network activity may drive value comparable to other L1 networks.

Maintaining user retention and consistent development will be crucial for TON’s DeFi ecosystem to thrive.

Can TON hold above-broken resistance?

For the price action, the descending channel break by Toncoin indicated a potential change in market direction. Volume bars increased as TON broke out at $3.50, which reaffirmed the bullish market trend.

Toncoin, as of press time, was trading at $3.74 as it tested past resistance, which has transformed into support levels. Toncoin has the potential to move higher toward $4.50-$5.00 resistance if it maintains its position above the descending trend channel.

The price crossing $5.00 will mark a total trend turnaround that could lead to price action toward $6.50 and beyond, which consists of a significant supply region.

TON needs to maintain its position above $3.70 so that support levels at $3.00-$3.10 remain intact.

Source: Trading View

If TON closes below $3.00, it could face a bearish reversal of its breakout pattern, potentially leading to a price drop toward the $2.50–$2.70 range.

For a bullish breakout to succeed, TON must hold higher levels between $3.70 and $3.75 or retrace into this range for confirmation.

Increasing buying interest, as indicated by volume trends, suggests that if TON stays above its key support zone, a price rise to $5.00 is achievable.