Toncoin (TON) Eyes Breakout as Technicals Signal Potential Recovery
Toncoin (TON) is showing early signs of a trend reversal, currently trading at $3.16 with a potential breakout on the horizon. The cryptocurrency has been oscillating between $2.90 and $3.60 since April, a consolidation phase that often precedes significant price movements. Volume contraction indicates market participants are awaiting a decisive catalyst.
A falling wedge pattern on weekly charts suggests building bullish momentum, with upside targets at $5.73, $6.86, and $7.90 if the breakout occurs. However, failure to hold the $3.00 support level could lead to a retracement toward $2.50. The Open Network's native token is displaying classic accumulation characteristics, with technical setups favoring long positions if key resistance levels are breached.
