Toncoin (TON) Eyes $2.88 Breakout Amid Measured Recovery: Can It Rally to $5?
Toncoin (TON) is currently trading at $2.81, showing a modest 1.5% gain over the past 24 hours. With a daily trading volume of $140.32 million and a market capitalization of $6.96 billion, investor interest remains steady. The token is stabilizing after a recent downturn caused by UAE authorities clarifying that crypto investments do not grant residency eligibility.
Analyst Ali Martinez highlights that TON's recovery depends on breaking the $2.88 resistance level. The TON Foundation has attempted damage control, clarifying that its UAE program involved a licensed partner rather than direct government ties, but confidence has not fully rebounded. Market dynamics indicate a stalemate between buyers and sellers, with neither side gaining clear dominance.
