Toncoin Shows Bullish Pattern Indicating Potential 40% Price Breakout
Toncoin (TON) has increased by over 5% in the last 24 hours, reflecting renewed market demand after a recent downturn. Crypto analyst Ali Martinez indicates that TON may be poised for a significant price breakout based on a symmetrical triangle pattern observed in its trading chart.
Key Points on Toncoin's Market Movement
- Current trading price is approximately $3.16.
- A breakout above $3.28 could lead to a price range of $4.55-$4.65.
- A breakdown below $3.10 may result in a drop to between $1.80-$1.90.
- The relative strength index is at 49.37, indicating a neutral market with potential bullish momentum.
- Market gains are recorded at 5.12% and 4.62% over the past one and seven days, respectively.
- Telegram’s partnership with xAI includes a $300 million investment and revenue sharing.
- Toncoin's market cap stands at $7.79 billion, ranking it as the ninth largest cryptocurrency despite a year-on-year loss of 49.98%.
