Ton coin (TON) has been on an impressive upward journey, securing a position above $5.0. Starting from a low of $5.0375, TON has surged to a peak of $5.24. This growth demonstrates a significant upward trend, with TON consistently staying above the $5 mark all day.
With its recent high at $5.24, Ton coin is nudging against resistance levels that might pave the way past $5.30. The fact that TON’s price hasn’t fallen below $5.03 shows solid support at this figure. This consistent growth, coupled with a substantial 24-hour trading volume of $132.91M, highlights TON’s bullish momentum.
Toncoin (TON) Faces Hurdles but Bulls Remain HopefulIn the latest 4-hour charts, TON is caught in a tug-of-war, facing resistance at $5.26. This mark has been a tough barrier, with several attempts to break through it. Support is found around $5.10, aligning with the Simple Moving Average (SMMA), suggesting this level could provide strong backing in future tests.
The RSI, just below 60, indicates a balanced market, neither overbought nor oversold, hinting at room for growth with increased buying. The MACD’s position above the baseline shows slight bullish momentum, although the signal lines are closely matched, indicating a closely fought battle between buyers and sellers.
Currently, at $5.25, TON is flirting with its recent highs, showing strength and the potential for a breakout if it surpasses the immediate resistance. Bulls are eyeing the $5.50 level next, a breach of which could lead to higher targets. Conversely, dipping below $5.10 might see a reevaluation at lower supports, with $5.00 and $4.90 acting as key psychological markers.
Toncoin’s (TON) Chart Suggests a Breakout Might Be Near
On the 4-hour chart, TON presents patterns suggesting an imminent breakout. Breaking above $5.20, TON has formed what looks to be a bullish flag pattern, hinting at a possible upward trajectory if the pattern holds. Despite a rising wedge pattern that typically suggests a bullish-to-bearish shift, TON’s stability indicates a strong base.
Resistance is noted near $5.30, TON’s recent peak, with support building around $4.86. Moving past $5.30 could challenge the $5.50 resistance, coinciding with the bullish flag’s peak.
TON’s consolidation within the bullish flag and stable support hint at readiness for trend continuation. A breakthrough could confirm the bullish market mood, potentially driving TON towards a $5.50 target. However, a fall below $4.87 might reverse the bullish trend, bringing lower support levels into focus.