Toncoin (TON) has been defying the recent market crash as Bitcoin and Ethereum continue to struggle with volatility. In fact, on the bigger time-frame the coin has put up an impressive performance. For instance, TON has surged by over 19% over the last one month.
However, despite the great performance, a top crypto analyst has warned that most Toncoin market participants might be in the denial phase. If that’s the case, what lies ahead for Toncoin?
Toncoin Investors are In the Denial Phase; Analyst Claims
According to crypto analyst Ali_Charts, TON investors remain convinced about the continuity of the market bull run despite the rising contradictory market indications. In his post on March.30, 2025, Ali_Charts shared that “many Toncoin (TON) investors may still believe the bull run is intact!”
Usually, the denial phase occurs as the bull run comes to an end but market participants continue to believe that every price dip is a brief correction. Because of this, these investors continue to purchase more as they anticipate a market recovery while ignoring negative market indicators. According to Ali-Charts, “denial is often the most dangerous phase” since investors choose to dismiss indications of potential market crash.
Toncoin has experienced immense growth over the past few months hence attracting more traders and investors. But the coin could be losing the upward momentum with the bull run coming to end. With Investors neglecting the changing market conditions, they expose themselves to a risk of losses by holding their positions longer than appropriate.
Toncoin DMI Chart Shows Upward Momentum Still Holds
The Directional Movement Index (DMI) of Toncoin is showing the bullish momentum still holds as the Average Directional Index (ADX) is still above 25. However, the ADX has dropped from 54.77 experienced at the start of March to a current reading of 30.98.
An ADX reading above 40 shows that a digital asset has strong momentum while a reading rising above 25 shows that a coin is gaining momentum. While the ADX value of TON has dropped from higher levels to at 30.98, it shows that the coin is still bullish.
Additionally, the +D which tracks the upward price movement is still above the -D hence showing that bullish momentum prevails in the current market. Currently, the +D is at 25.19 while the -D is at 16.41. While it could be fading away as seen with the +D and -D converging, TON is still on an upward trend despite Ali_Charts claiming that the bull run is over.
TON Price Performance and Technical Outlook
Toncoin is currently trading at $3.85 as per the daily chart on TradingView. The recent price performance of TON defies the recent market crash with over 3.5% surge on the day. While the analyst claims the bull run is over, stronger buying could push TON higher.
Furthermore, the RSI of the coin backs this up as it sits at $58.87 surging from 58.40. A rising RSI shows bullish sentiment across the market hence the price of TON could continue to rise. However, if the RSI reaches the oversold level (70), the coin may face a correction.
Additionally, Toncoin’s MACD is still bullish as the MACD line is above the signal line. The MACD line sits at 0.123 while the signal line is at 0.074. Nonetheless, the fading histogram bars shows that a bearish crossover may happen in the near future. Toncoin investors must thus continue to monitor the technical indicators for trend shift signals.
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