Fundamentally strong altcoins are the ones to be holding for the rest of this crypto bull market. Toncoin (TON) and Theta (THETA) are certainly two of these.
Back the right horses
As bitcoin (BTC) readies itself for the next surge, perhaps all the way to $100,000, investors and traders need to make sure that they are backing the right horses among the altcoins, given that $BTC’s next 40% move is potentially going to be 120% plus for the right altcoins.
Toncoin has potential 800 million user base
Toncoin (TON) could be one of the best picks. The reason for this is very simple. The Ton Network was put together by the Durov brothers, who founded the 3rd most used messenger service in the world, in Telegram. One of the largest cryptocurrency private sales in history raised $1.7 billion back in 2018, and even though Telegram was obliged to settle with the US regulator for offering unregistered securities, and also paid back the funds to the original investors, a small team took on the development of the Ton Network, and eventually rebranded as the TON Foundation.
Possibly the most important thing to bear in mind here, is that Telegram has retained its links with TON. It integrated the TON wallet into Telegram, and now Telegram’s 800 million users have access to it.
$TON in sharp uptrend
Source: Coingecko/Trading View
In the short term time frame of the 4-hourly, $TON is observably in a sharp uptrend. Now that $TON is in price discovery, the fibonacci extensions give targets of $7.24, $8.20, and $8.80. It is likely that the price could go a lot higher than this over the course of this crypto bull market.
Theta Network is a leading DePIN play
Theta (THETA) is one of the leading DePIN plays for this crypto bull market. A decentralised cloud for video, the Theta Network is launching its hybrid cloud computing platform on 1 May this year. Such an innovative player could become a leading platform in decentralised CPU/GPU cloud networks.
$THETA begins its journey back to $16
Source: Coingecko/Trading View
The weekly chart for $THETA allows one to see just how far the price has to go in order to match the high of nearly $16 in April 2021. That said, the price began its uptrend from $0.56 in October 2023, and reached $3.80 before consolidating into a bull pennant.
$THETA price breaks out
Source: Coingecko/Trading View
As can be seen from the short time frame chart above, the $THETA price has broken out of the triangle and has confirmed the break. A possible target using a measured move taken from the triangle, is $4.35.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
