🚀 Toncoin (TON) Primed for Explosive Rally as Coinbase Backing Fuels Bullish Frenzy

Coinbase's surprise investment sparks TON's breakout potential—just as traders pile into bullish bets. Here's why the smart money's watching.

The Coinbase Effect: More Than Just Hype?

When a Tier-1 exchange throws weight behind an asset, markets listen. TON's infrastructure play now has institutional credibility—and a target on its back.

Futures Heat Up While Hodlers Dig In

Open interest spikes as derivatives traders chase momentum. Meanwhile, long-term holders accumulate, betting this isn't just another 'when Lambo' play.

The Fine Print Nobody Reads

Yes, exchanges profit whether you win or lose. But for once, their incentives might actually align with yours—if TON delivers its promised 'Ethereum killer' scaling.

Another day, another 'next big thing.' Except this time, Wall Street's playing with crypto's toys instead of the other way around.

Coinbase investment boosts TON traders' confidence

The TON Foundation announced that Coinbase Ventures holds Toncoin, joining a list of investors that includes Sequoia Capital, Benchmark, and Ribbit Capital. The foundation did not reveal the actual volume of TON tokens bought by the investment branch of the Coinbase exchange. 

Still, the capital inflow from another venture capital firm fuels confidence among investors. CoinGlass data shows the long positions over the last 24 hours, based on Taker buy-to-sell volume, have increased to 50.43%, up from 48.71% on Monday. This over two percentage points jump reflects increased confidence among traders.

Toncoin long/short ratio. Source: Coinglass

Toncoin’s double-edged consolidation range

Toncoin moves flat for the fifth consecutive day, between the squeezing 100- and 200-day EMAs, following the 3.50% jump last Wednesday. To reinforce a bullish trend, Toncoin should achieve a decisive close above the $3.588 resistance level, last tested on August 4. The breakout rally could result in a 20% jump to $4.211 level, marked by the April 1 high.

The technical indicators remain mixed, as the Relative Strength Index (RSI) reads 56 on the daily chart, bouncing off the midpoint line and indicating increased buying pressure. 

Furthermore, the 50- and 100-day EMAs are on the verge of a Golden Cross, which WOULD mark a buy signal as short-term recovery gains traction. 

Still, the Moving Average Convergence Divergence (MACD) line inches closer to its signal line, maintaining a negative alignment. This suggests a weakening bearish trend in motion. 

TON/USDT daily price chart.

Looking down, a decisive close below the 50-day EMA at $3.225 would invalidate the consolidation range. In such a case, TON prices could decline to the $3.000 round figure.