The Toncoin (TON) cryptocurrency is undergoing a critical technical retest after breaking out of a falling wedge pattern. Analysts are monitoring potential upside targets at $1.45, $1.90, $2.36, and $2.83 if support holds, while momentum indicators suggest fading bearish pressure.
Toncoin (TON) is testing a former resistance line that has become a support zone following its breakout from a falling wedge pattern. Analyst Jonathan Carter stated the token’s “technical setup still looks quite healthy” and could move higher if the retest proves successful. The price is currently trading at $1.35 with a market capitalization of $3.31 billion.
The Relative Strength Index (RSI) reading of 51.35 indicates the asset is moving into neutral territory, suggesting bearish momentum is weakening. A bullish crossover on the Moving Average Convergence Divergence (MACD) indicator further signals increasing buying pressure. These technical developments point to a potential trend reversal.
Key resistance levels identified by analysts are $1.45, $1.90, $2.36, and $2.83. The token’s weekly performance shows a 9.53% surge, supported by a 24-hour trading volume of $74.04 million. Market observers are watching the support validation process to confirm the breakout’s strength and assess the likelihood of continued upward movement.
