- Analysts predict that Solana could find support around $215 and rebound strongly in 2025, potentially reaching $600.
- Positive on-chain data shows a reduction in TON’s supply on exchanges, signaling less selling pressure, which could support a continued rally toward an all-time high of $10.
As the altcoin market has witnessed participation from different players amid capital rotation, crypto traders are eager to find the assets that can deliver strong returns next. While Solana (SOL) and Toncoin (TON) have been early participants in the altcoin rally, their rallies have stalled in recent weeks as XRP, DOGE, ADA, and others take the lead.
However, after this hiatus and a period of brief consolidation for TON and SOL, crypto traders are once again betting on these two altcoins that can reach their all-time highs. Tokens like Bitcoin, PEPE, and Tron (TRX) have reached all-time highs in 2024, while assets like Ripple (XRP) and Cardano (ADA) have regained prominence as the industry experiences a resurgence. As 2025 approaches, two tokens could be poised to capitalize on this positive sentiment.
Toncoin (TON) Price Action
After consolidating around a while around $5.5 following the Donald Trump victory in early November, Toncoin (TON) finally joined the altcoin market party surging all the way to $7 in early December, per the CNF report. However, since then it has been facing rejection and moving sideways.
During the strong altcoin market correction in the last 24 hours, the TON price dipped another 11%, slipping under $6 levels. While the TON price faces selling pressure, the 24-hour trading volume has surged 135% all the way to $800 million.
Furthermore, there have been positive on-chain development for TON. On-chain data reveals an intriguing trend—TON’s supply on exchanges decreased from 1.75 million to 1.68 million in early December. With reduced selling pressure from Toncoin traders, the stage may be set for a continued rally. As a result of this, crypto market analysts remain bullish that the Toncoin price can continue the rally to an all-time high of $10.
Solana (SOL) Price Action Ahead
After hitting the 2024-high of $263 last month in November, the Solana (SOL) price saw some retracement. From its peak, the SOL price has witnessed a pullback of nearly 20% and is currently trading around $215 level. Crypto market analysts expect Solana to find a bottom here and reverse its trajectory moving all the way to $600 next year in 2025, reported CNF.
As shown in the below chart, Solana gave a cup-and-handle breakout on a multi-year chart and thus it could lead to a mega rally in 2025. On the other hand, asset manager Grayscale and NYSE have filed for a spot Solana ETF as the demand for the asset continues, reported CNF.
CryptoQuant analyst Maartunn has identified two assets, SOL and TON, as potential candidates to reach new all-time highs. In a post on the platform, he shared a Price Drawdown Heatmap, offering insights into how close a cryptocurrency is to its record price. The data reveals that both Solana and Toncoin are leading among all other altcoins.
