In the realm of cryptocurrencies, Bitcoin‘s fall below $63,000 has triggered a market downturn, with altcoins following suit. As investors’ patience wears thin post-halving, expectations of a bullish market continue to grow. Meanwhile, an analyst has commented on a notable altcoin and another high-volume altcoin, marking significant trends in the period.
TON Coin’s Promising Outlook
A leading market analyst has expressed a bullish outlook on Toncoin (TON).
Loma, a prominent analyst, stated on the social media platform X to thousands of users that he intends to buy TON at around $5, highlighting the potential of the layer-1 crypto project Toncoin’s native token.
“I’m building a TON position as I look for a buy zone. I’ll complete the position in the buy area.”
“Any acceptance below this could mean it’s time to reduce size or exit completely because I might be wrong.”
“Many cryptocurrencies, regardless of value, look similar; choose your poison. I don’t think it makes much sense to be overly bearish at high timeframe market structure pivots.”
As of writing, following a 5% decline, TON continues to find buyers at $5.25, while its market cap has fallen to $18.2 billion and its trading volume has decreased by 14% to $123 million.
BNB Coin Outlook
According to another statement by Loma, BNB, the native token of the BNB Chain ecosystem, is likely embarking on a journey to new all-time highs.
“Binance Coin has already erased all its downward movement. Quarterly burns. Negative funding. If you’re waiting for Solana, Ethereum, and the rest to do this, I see no reason why it shouldn’t reach new ATHs.”
The analyst referred to multiple bullish factors, naming BNB a dark horse among major cryptocurrencies, and commented:
“I think Binance Coin is a live dark horse for the majors.”
- Looks good structurally in both USD and BTC pairings.
- Typically hedged against spot assets by larger whales due to negative funding.
- Short to medium term exempt from SEC pressure.
“I have a bag.”
As of writing, the price of BNB stands at $591, representing a 2% decrease.
