Elluminex (ELX) Presale Star Set to Play Major Role in TON Coin's (TON) Long-Term Recovery

The price of Toncoin (TON) has dropped below its crucial support zone after a failed attempt to hold above the $5 price mark.

The price of Toncoin (CRYPTO: TON) has dropped below its crucial support zone after a failed attempt to hold above the $5 price mark. However, this recent price correction is considered a minor setback as popular crypto analyst DeFi Compass predicts an imminent recovery for the TON price.

On the other hand, a fast-rising presale star, Elluminex (CRYPTO: ELX) is set to play a major role in the TON coin’s long-term recovery, and the reason is not far-fetched. Compared to other blockchain networks, the TON blockchain has few to no bridge protocols, which normally promotes the seamless transfer of assets between other chain networks. However, with Elluminex in the picture, the narrative is about to change.

Elluminex's Aim To Drive DeFi Forward On The TON Blockchain Attracts Attention

Elluminex (ELX) is set to become the next Jupiter, Uniswap, PancakeSwap, and SpookySwap, but on the TON (TON) blockchain. As a pioneering cross-bridge solution on one of the fastest-growing blockchain networks, Elluminex has been projected to foster the next billion-dollar DeFi market. For context, that’s exactly what Jupiter did for Solana, and Uniswap for Ethereum, with both opening the door for billion-dollar DeFi projects and meme coins like Bonk and Dogecoin respectively.

Specifically, Elluminex combines its native $ELX token, AI-driven insights, and proprietary premarket features in an attempt to revolutionize asset management and trading as a whole. Not only does this provide a level playing field for new and experienced users, but it also gives them equal shots at becoming profitable. Elluminex particularly houses unique features like an AI-powered portfolio tracker that streamlines the overall DeFi experience for all users.

Meanwhile, new projects can also leverage Elluminex’s cross-chain solutions as well as its vast liquidity required to succeed on the TON Network. This way, the TON Network is well-equipped to compete with established chain networks. Elluminex, on the other hand, gains exposure to the TON Network’s massive user base, which can aid its growth. Currently priced at $0.06, the native $ELX token holds great potential to debut as the next 100X token.

Toncoin Price Retracement Is A Recipe For Price Breakout

Like most top altcoins in the market, Toncoin (TON) prices have not responded any differently to the broader market sentiment. In its own case, TON’s price slipped below the $5 support level, forcing the top altcoin to trade within a consolidated weekly price range of $5.01 and $4.91, which reflects a minor decline in the past week.

However, this current retracement appears to be a minor setback, as the TON price is closing up the gap away from $5 from a weekly low of $4.75. Meanwhile, popular crypto analyst DeFi Compass also pointed out in a recent X post that the native TON coin is testing key support between $4.50 and $4.85. According to his analysis, a bounce from this crucial level could signal a recovery, a new breakout, and possibly new ATHs if a euphoria phase comes.

In contrast, TON coin’s technical analysis including long and short-term moving averages points at a strong sell, which suggests that TON coin could still be at risk of further downturn, especially if it fails to reclaim the levels above $5 soon enough.

Can Elluminex Achieve A Bullish Impact On Ton Blockchain?

Elluminex boasts an unfair advantage compared to its peers considering its exposure to TON Network’s rapidly-growing user base. By leveraging TON network’s over 10 million monthly active users, coupled with the network’s association with Telegram and its over 1 billion users, Elluminex is set to achieve one of the fastest growths by a cross-chain bridge solution.

For more information about Elluminex (ELX) visit the links below:

Website: https://elluminex.com Twitter/X: https://x.com/elluminex Telegram: https://t.me/Elluminex