Toncoin Tests Critical Support, Poised for 102% Rally Toward $3.50
Toncoin (TON) is hovering NEAR a crucial long-term support level following a sustained correction from its 2024 peak. The current consolidation phase suggests an impending trend reversal, with technical indicators pointing to a bullish breakout if support holds. Analysts highlight that the macro Ascending Channel, intact since 2022, positions the $1.73 price level as a potential springboard for a 102% surge toward the $3.50 target.
Market observer Crypto Patel notes the descending corrective channel is losing momentum near historic demand zones. The convergence of high-timeframe support and an ascending trendline reinforces this optimistic outlook. Trading volume remains robust at $129 million despite a minor 0.83% daily dip, reflecting sustained market interest in the $4.16 billion market cap asset.
