The Open Network (TON), which powers Toncoin (TON), has been showing signs of potential upward movement after a period of low bearish sentiment. With a current fully diluted market cap of around $16 billion and a 24-hour average trading volume of $114 million, TON is gaining traction among institutional investors. These inflows are expected to bolster its bullish sentiment, positioning TON as a top contender in the anticipated 2025 altseason.

A major factor contributing to the surge in interest surrounding TON is its integration with the widely-used Telegram messaging platform. This ecosystem connection has attracted new customers and helped establish TON as a viable alternative to Bitcoin, with a notably low price correlation to Bitcoin’s price action. This independence from Bitcoin’s volatility adds to the appeal of TON as a reliable altcoin for traders.

While the current market conditions are presenting a cautious sentiment, TON’s price performance over the recent months has shown resilience. With only 20% of TON holders currently in profit, there is a strong chance of a bullish shift, as market sentiment could swing in favor of the bulls.

Midterm Expectations for TON

As of the year-to-date (YTD), TON has been trapped within a descending logarithmic trend, signaling possible accumulation. However, the market appears to be nearing the bottom, suggesting that a reversal could be imminent. In the daily timeframe, TON has started forming a double-bottom pattern, supported by a rising divergence in its Relative Strength Index (RSI). This is an encouraging sign for potential bullish momentum.

Moreover, the MACD indicator has crossed above the zero line, providing further evidence of bullish sentiment in the market. If these trends hold, TON’s price is well-positioned to break through the crucial resistance levels and rally towards the next liquidity range, which lies between $4.6 and $7.2.

For this bullish scenario to play out, TON must consistently close above the current daily logarithmic trend to avoid further market corrections. If the price fails to maintain this level, there is still a chance for a pullback before another attempt at a breakout.

Fundamental Outlook and Network Growth

The fundamental outlook for TON is increasingly bullish, supported by solid growth within the ecosystem. TON’s blockchain network now boasts over 400 node validators and more than 700,000 staked assets, which speaks to its growing user base and increasing decentralization. The network’s total value locked (TVL) is approximately $138 million, while the stablecoins market cap within the ecosystem has reached about $1 billion.

These developments are just the beginning, as TON’s potential for growth in the coming months looks promising. The network’s expansion is supported by strong backing from leading Web3 venture capitalists and a global liquidity push, making it well-positioned for significant growth.

Conclusion

In the short term, TON is poised for a potential rally if the reversal pattern continues to take shape. The bullish sentiment is backed not only by technical indicators but also by a growing, robust network that attracts institutional investors and customers alike. If TON successfully breaks through key resistance levels and maintains bullish momentum, it could see its price surge to the next liquidity range between $4.6 and $7.2.

Investors should keep an eye on TON’s price action, as the technical and fundamental factors indicate the possibility of strong upward movement in the coming weeks. The Open Network is poised to capitalize on its expanding ecosystem, which could help propel TON into the spotlight as one of the most promising altcoins of 2025.