Toncoin (TON) Shows Bullish Potential: Can It Break $3.66 Resistance?

Toncoin (TON) is displaying notable resilience in a sluggish crypto market, maintaining stability at $3.36 despite a 7.03% weekly drop. The token has gained 1.1% in the last 24 hours, reaching $3.38, signaling short-term bullish momentum. Trading volume has decreased by 30.36% to $269.14 million, while its market cap holds strong at $8.64 billion.

Technical analysis indicates TON is testing the upper limit of its recent range, with $3.17 serving as key support. A breakout above this level could drive the price toward resistance at $3.66. Market indicators reflect cautious optimism—the RSI at 57.31 suggests room for upward movement, and a positive MACD crossover points to growing momentum.

Toncoin ranks second in open interest growth (1.99%) and third in OI-weighted funding rate among major cryptos, highlighting institutional interest. The slightly bullish funding rate contrasts with broader market stagnation, positioning TON as a potential standout performer.