Toncoin (TON) Is Coiled Up and Ready to Make a 40% Price Move

Toncoin is currently positioned within a technical formation that could trigger substantial price movement in the near future.

Toncoin price is approaching the apex of a symmetrical triangle formation, which could trigger a 40% price move in either direction. Technical analysis suggests a move toward $4.50 if the upper boundary is breached.

Toncoin has been consolidating within converging trend lines, forming a symmetrical triangle pattern. The cryptocurrency is now approaching the apex of this triangular formation, which could see a breakout in the coming weeks.

Symmetrical triangles typically resolve within the final third of the pattern’s duration, and Toncoin appears to be approaching this critical juncture based on the narrowing price range.

The cryptocurrency has been trading between two converging trend lines since February, according to technical analyst Ali Charts, who recently highlighted the pattern on X, formerly Twitter.

Toncoin trades at $3.30 at the time of writing, showing strong trading volume. The 24-hour volume reached $282,561,488, and the cryptocurrency price rose 3.57% in the past day and 2.62% over the previous week.

If Toncoin breaks above the upper boundary of the triangle, analysts project a move toward $4.50. This would represent approximately 40% upside potential from current levels. The target is based on measuring the height of the triangle’s widest point.

A breakdown below the support level could lead to different outcomes. Technical analysis suggests a move toward $2.40 if the lower boundary fails to hold. This scenario would complete the triangle pattern in the opposite direction.

Support and Resistance Levels

The chart analysis highlights clear resistance at the $3.50 level and support around $2.90. These levels have held during recent price action and continue to define the current trading range.

The converging trend lines are also visible, with the upper trend line acting as immediate resistance for buyers. The high trading volume suggests strong participation in the market, which could influence the breakout direction.

As the symmetrical triangle pattern reaches its apex, traders and investors are closely monitoring the key levels to anticipate the next move in the Toncoin price.