Toncoin (TON) surged over 6% as bullish momentum strengthened following a successful trendline retest. Analysts suggest TON could rally toward $6.84 if it holds support above its breakout zone. Technical indicators show the asset trading above key moving averages, while derivative data points to rising trader confidence.
Toncoin maintained bullish momentum after a successful trendline retest, with technical indicators showing market stabilization and growing trader confidence. Rising trading activity and stronger derivative interest suggest buyers remain in control as the asset continues holding its broader uptrend structure.
At the time of writing, TON is trading at $1.89 with a 24-hour trading volume of $299 million and a market capitalization of $5.1 billion. Market participants believe the bullish outlook remains valid as long as Toncoin price maintains support above the reclaimed trend zone.
The crypto analyst Bitcoin Meraklisi revealed that TON has successfully completed a critical trend retest after its recent correction. Following a powerful 130% rally, the asset entered a healthy pullback phase and is now holding above the previously broken descending trendline.
If momentum continues building, traders are closely watching several upside targets, including $2.61, $3.58, $4.59, and eventually $6.84. The successful retest is being viewed as a strong sign that buyers still control market direction.
According to TradingView, the Toncoin price is making an exit from a tight consolidation range in favor of a powerful vertical breakout. Buyers have created a firm base at $1.77, which resulted in the Toncoin price recovery toward $1.90.
The Toncoin price is in a battle between the 20-day Exponential Moving Averages (EMAs), but it is sitting comfortably above all three EMAs (50, 100, and 200). On the other hand, the Relative Strength Index (RSI) has retraced from being overbought to a level of 51.18, which means that momentum has been reset.
TON’s open interest increased by 11.30%, rising to $476 million, according to Coinglass. The trading volume increased by 132.00% to reach $493 million, indicating a rapid increase in trading activity and interest.
