This Chart Pattern Could Launch Toncoin (TON) Price to $5 – Here's Why

Toncoin is starting to turn heads as traders spot a chart setup that could lead to a major price move. A symmetrical triangle has formed on the daily chart

Toncoin price is showing a chart pattern that has crypto traders talking about a setup for a major move.

On Monday, crypto expert Ali shared an analysis of the symmetrical triangle forming on the daily chart of Toncoin (TON).

This pattern usually signals the market is preparing for a breakout from a period of consolidation, and it could see the cryptocurrency's price move 47% from the breakout point.

As Toncoin price gets closer to the apex of the triangle, traders will also be watching for volume to increase as that will help to confirm the breakout.

Symmetrical Triangle Signals Imminent Volatility For TON Price

Credit: Ali via X

The chart shows the price of Toncoin forming a symmetrical triangle pattern since March. The upper boundary of the pattern is defined by a descending resistance trendline, while the lower boundary forms an ascending support trendline.

The convergence of these trendlines indicates price compression, as the market prepares for a breakout in either direction.

At the time of writing, Toncoin is trading at around $3.15. This places it at the midpoint of the triangle, although it is moving closer to the ascending support.

The structure of the pattern suggests that buyers and sellers are narrowing their price range, reducing volatility ahead of a larger price swing.

Immediately below the current price level, there is an area of support at around $3.00, which previous price reactions suggest could provide some support to the price.

A further support range is present between $2.85 and $2.90 in case the price breaks below the triangle.

On the upside, the key resistance level to watch lies between $3.55 and $3.60. This level defines the upper boundary of the pattern and is likely to be tested if the bulls exert more strength.

A breakout above this resistance may open the property door for price targets to be reached between $4.40 and $5.50, placing the potential price move at around 47%.

This aligns with the measured height of the triangle pattern, which spans from approximately $2.30 to $4.50.

Applying this range to a potential breakout at $3.30 would yield a projected target of around $5.50.

Conversely, if Toncoin price breaks down below the support, the technical target would be substantially lower. A decline toward the $1.10-$1.20 region remains a theoretical outcome but is less probable without broader market weakness.

Traders Will Observe Volume For Confirmation

As Toncoin approaches the apex of the triangle, traders will also be focusing on volume trends.

A breakout accompanied by a significant increase in volume would reinforce the move and help to validate the direction.

Until such confirmation occurs, TON price remains in consolidation with both bullish and bearish possibilities.

Ali’s chart and analysis has been shared widely on X (formerly Twitter) and other social media platforms as traders discuss the setup and await confirmation of the breakout direction.